Pent-up demand, base effect push July domestic PV sales' higher
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Pent-up demand along with base effect and low interest rates accelerated India' domestic PV sales on a year-on-year and sequential basis in July.
Accordingly, sales of passenger vehicles increased to 2,64,442 last month compared to 1,82,779 units sold during the same period of 2020.
The data furnished by Society of Indian Automobile Manufacturers (SIAM) showed that PV sales were higher than the 2019 level of 1,90,115 units.
Even on sequential basis, July sales were higher than 2,31,633 units sold during June.
Besides, SIAM said the data does not include sales figures from some key players such as Tata Motors.
