iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

In July, domestic PV sales reached a record high due to SUV demand

11 Aug 2023 , 12:11 PM

Sports utility vehicle demand propelled domestic passenger vehicle sales to a new high in July, while the demand for compact cars and two-wheelers remained poor as entry-level consumers’ disposable budget was squeezed.

According to information provided by the Society of Indian Automobile Manufacturers (SIAM), 350,149 passenger automobiles were sent from factories to dealerships in July, up 2.6% from the 341,370 units sold in the same month two years prior.

In anticipation of the holiday season, which will begin with Onam in Kerala on August 20, automakers expressed confidence that strong macroeconomic fundamentals and a robust monsoon will boost consumer demand across categories.

‘In July, passenger vehicle sales reached an all-time high, with a little increase of 2.6% from July 2022. According to Rajesh Menon, director general of SIAM, who talked to ET, ‘three-wheelers also registered a respectable growth of 78.9% compared to previous year, which is the second highest in the month of July after the peak of 2018-19.

For feedback and suggestions, write to us at editorial@iifl.com

cars in india: 1 in 5 cars sold in India comes with automatic transmission  - The Economic Times

Related Tags

  • automobiles
  • July
  • sales
  • SUV
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.