look news india
Mumbai: The country's auto industry has seen good sales growth in the first quarter of the current financial year. According to data released by the Society of Indian Automobile Manufacturers (SIAM), auto sales in the first quarter crossed 10 lakh for the first time.
Sales rose 3 per cent to 10,26,006 units as compared to the first quarter of the previous fiscal. SIAM sources said the higher sales figures for Utaru vehicles were a result of an 18 per cent rise in sales of utility vehicles and a 9.20 per cent increase in sales of vans. Sales of Utaru cars declined by 17.50 per cent.
Two-wheeler sales in the June quarter grew 20.40 percent year-on-year to 50 lakh units. Among two-wheelers, scooter sales grew by 28.20 percent and motorcycle and moped sales also saw growth.
Three-wheeler sales grew by 14.20 per cent to 165,081, the highest in any quarter.
“Given the positive trend of monsoon and the upcoming festive season, vehicle sales are expected to witness strong growth,” SIAM President Vinod Agarwal said in a statement.
Talking about the month of June, there has been a decline in the sales of electric vehicles year on year, about which Commerce Minister Piyush Goyal had also expressed concern. Electric vehicles are a new segment for us, so there may be a slowdown in it sometimes, but after the budget, there will be an increase in it.