0
Low interest rates, along with pent-up demand, especially for utility vehicles (UVs), accelerated domestic passenger vehicle (PV) sales in February on both year-on-year (y-o-y) and sequential basis. According to data from the Society of Indian Automobile Manufacturers (SIAM) PV sales increased 17.92% during February 2021.
During the month, passenger car sales inched 4.43% to 155,128 from 148,541 units a year-ago period, while UV sales jumped 45.35% to 114,350 units from 78,674 units. Sales of vans increased by 4.34% to 11,902 units during February this year. Total sales in PV segment witnessed an increase of 17.92% to 281,380 units compared with 238,622 units in February 2020.
Two-wheelers, including scooters, motorcycles, mopeds and electric-two-wheelers, witnessed 10.20% growth in February sales. A total of 1,426,865 units were sold during the month, compared with 1,294,787 units, same month a year ago. Scooter and motorcycle segment witnessed a growth of over 10% w