A recent report says that there is a surge in passenger vehicle dispatches to dealers in India. According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle wholesales jumped to 2,51,052 units last month when compared to 88,045 units in May 2021.
Sales of two-wheelers rose to 12,53,187 units in May. Last year, it was 3,54,824 units. Likewise, the total three-wheeler dispatches were at 28,542 units in May as against 1,262 units in May last year. Overall, the sale of passenger vehicles stood at 15,32,809 units in May. It was 4,44,131 units last year.
Meanwhile, the sale of two-wheelers and three-wheelers remain slow in May 2022. Also, the sales of the passenger vehicle segment are below the 2018 level. Customer demand is impacted because of the second hike in RBI’s repo rates and increase in third-party insurance rates, said SIAM Director General Rajesh Menon. However, he expects that recent government interventions would ease the challenges on the supply side.
