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Domestic passenger vehicle wholesales declined by about 2 per cent year-on-year in August as companies curtailed dispatches to reduce inventory at dealers amid a drop in demand. According to data issued by the industry body Society of Indian Automobile Manufacturers (<keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords">SIAM</keyword>), the total passenger vehicle dispatches in the domestic market stood at 3,52,921 units last month compared to 3,59,228 vehicles in August 2023, a dip of 1.8 per cent. Two-wheeler wholesales rose 9 per cent to 17,11,662 units last month against 15,66,594 units in the year-ago period, it added. Scooter dispatches last month climbed to 6,06,250 units from 5,49,290 units in August 2023, a growth of 10 per cent. Similarly, motorcycle dispatches from companies to dealers increased by 8 per cent to 10,60,866 units last month from 9,80,809 units in August 2023. The total three-wheeler sales grew 8 per cent to 69,962 units last month against 64,944 units a year ago. "Looking ahead, as the country enters the festive season, demand for vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of Government of India," SIAM Director General Rajesh Menon said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Passenger vehicle wholesales dip 2% in August as OEMs cut dispatches

The <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 <keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword> charging sites. Shailesh Chandra, President of <keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword> and Managing Director of Tata Motors Passenger Vehicles Ltd &amp; Tata Passenger Electric Mobility Ltd, expressed strong support for the government's forward-thinking initiative. Chandra said, "This forward-thinking initiative reflects the Government's unwavering support for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s transition to electric mobility, fostering innovation and investment within the sector. We beli<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">ev</keyword>e this scheme will not only enhance the growth of the EV ecosystem but also strengthen <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s leadership in the global movement towards environmental sustainability." Dr Anish Shah, Group CEO &amp; MD, Mahindra Group also commended government's efforts, specifically highlighting the comprehensive nature of the PM e-DRIVE scheme. Shah said, "We applause the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country." M&amp;M noted that schemes like <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have already driven penetration of electric three-wheelers in India. "Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100 per cent electrification in this segment by 2030", he added. The Union Cabinet, on Wednesday, cleared the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme,' with a total outlay of Rs 10,900 crore over two years. It includes Rs 3,679 crore in subsidies and demand incentives for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other emerging electric vehicles. It is expected to support the deployment of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, providing a significant push to India's EV ecosystem. A critical aspect of the scheme is the introduction of e-vouchers for EV buyers. At the time of purchase, an Aadhaar-authenticated e-voucher will be generated, which will enable buyers to avail of demand incentives. Additionally, the scheme allocates Rs 500 crore for the deployment of e-ambulances, marking a new initiative to integrate electric vehicles into essential public services. Another Rs 4,391 crore has been earmarked for the procurement of 14,028 e-buses, with a demand aggregation process led by CESL in nine major cities, including Delhi, Mumbai, and Bangalore. Intercity and interstate e-buses will also be supported in consultation with states. Furthermore, Rs 500 crore has been set aside to incentivize the adoption of e-trucks, a critical move given that trucks are one of the largest contributors to air pollution. The scheme encourages those with a scrapping certificate from <keyword id="19897457" type="General" weightage="20" keywordseo="ministry-of-road-transport" source="keywords">Ministry of Road Transport</keyword> and Highways-approved (MoRTH) vehicle scrapping centres to participate in this transition. With an allocation of Rs 2,000 crore, the scheme will support the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be installed in cities with high EV penetration and along selected highways, making long-distance EV travel more viable.

Automobile industry hails PM e-DRIVE scheme to promote EVs

New Delhi [India], July 12 (ANI): The <keyword id="20025828" type="General" weightage="20" keywordseo="two-wheeler-sales" source="keywords">two-wheeler sales</keyword> in India in June registered a growth of 21.3 per cent year-on-year (Y-o-Y), highlights the sales data released by the <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (SIAM) on Friday. The data highlighted that in June the total sales of the two wheelers were recorded at 16,14,154 units which is a 21.3 per cent increase from 13,30,826 two wheeler sold in June 2023. The sales of the scooters also surged to a record 42 per cent Y-o-Y in June to 5.4 lakhs, last year in June it was at 3.8 lakhs. The sales of Bikes also registered two-fold growth with sales increased by 11 per cent in June to 10.3 lakhs as compared to 9.1 lakh last year during the same period. The <keyword id="20028264" type="General" weightage="20" keywordseo="passenger-vehicle-sales" source="keywords">passenger vehicle sales</keyword> also registered a growth of 3 per cent Y-o-Y in June. The total passenger vehicle sales during June stands at 3,37,757 units, it was 3,27,788 units during June 2023. The sales of <keyword id="20412606" type="General" weightage="20" keywordseo="three-wheelers" source="keywords">three-wheelers</keyword> surged twofold by an increase of 12.3 per cent, according to the data total 59, 544 units of three wheelers were sold in June 2024 as against 53, 025 units sold in June 2023. The sales data for June demonstrates a positive outlook for the Indian <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">automobile industry</keyword>. The substantial growth in two-wheeler sales, particularly scooters and motorcycles, along with the steady increase in passenger and three-wheeler sales, reflects a resilient and expanding automobile market in India. Earlier in May, the sales of passenger cars dropped by over 11 per cent, according to the data by the Society of Indian Automobile Manufacturers (SIAM). The domestic sales of passenger cars also slipped 11 per cent from 1,20,364 units in May 2023 to 1,06,952 units in May 2024. The auto companies also reduced the production of passenger cars by 13 per cent, from 1,63,619 units in May 2023 to 1,42,367 units 2024. Export of passenger cars too saw a drop of about 20 per cent from 35,806 units in May 2023 to 28,802 units in May 2024. However, the sales number of June showed the positive signs of growth in the automobile industry.

Auto sales see a positive trend in June, two-wheeler sales register 21% annual growth: SIAM data

<keyword id="20163833" type="General" weightage="100" keywordseo="Passenger-vehicle" source="keywords">Passenger vehicle</keyword> wholesales in India declined 2.5 per cent year-on-year to 3,41,510 units in July, impacted by high base effect as well as companies reducing vehicle dispatches to dealers amid moderation in demand. The overall passenger vehicle (PV) dispatches from companies to dealers stood at 3,50,355 units in July 2023, <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">automobile industry</keyword> body <keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords">SIAM</keyword> said on Wednesday. <keyword id="21653561" type="General" weightage="20" keywordseo="utility-vehicles" source="keywords">Utility vehicles</keyword> continued to drive sales of PVs, clocking 1,88,217 units last month, as against 1,80,831 units in July 2023, a growth of 4.1 per cent, as per the data issued by the Society of Indian Automobile Manufacturers (SIAM). Passenger cars, however, recorded a drop of 12 per cent at 96,652 units, as against 1,09,859 units in the same month last year. Industry observers pointed out that after high-paced growth witnessed in the past couple of years, the industry is witnessing moderation in demand. Besides, Original Equipment Manufacturers (OEMs) also undertook stock corrections in July to reduce inventory in the network. As per SIAM data, <keyword id="22783202" type="General" weightage="20" keywordseo="two-wheeler-wholesales" source="keywords">two-wheeler wholesales</keyword> grew by 12.5 per cent to 14,41,694 units last month, as compared to 12,82,054 units in July 2023. <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">Motorcycles</keyword> wholesales were up 4.1 per cent at 8,50,489 units in July 2024, as against 8,17,206 units in the year-ago month, SIAM said. Scooters sales were up 29.2 per cent at 5,53,642 units last month, as against 4,28,640 units in the year-ago period. Three-wheeler wholesales also rose 5.1 per cent to 59,073 units from 56,204 units in July last year. "Though three-wheeler and two-wheeler segments are performing well, there has been some de-growth of passenger vehicles and commercial vehicles in July 2024, compared to July 2023," SIAM President Vinod Aggarwal said in a statement. He, however, said the above average rainfall coupled with upcoming festive season is likely to again propel growth in the short term. "In addition, enabling budget announcements which emphasise on overall economic growth with fiscal support for infrastructure and rural sector should augur well for the auto sector in the medium-term," Aggarwal said.

Domestic passenger vehicle wholesales dips 2.5% at 3,41,510 units in July: SIAM

<keyword id="19908548" type="General" weightage="20" keywordseo="Hyundai-Motor-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motor India" meta.hostid="261" meta.entityid="Hyundai Motor India">Hyundai Motor India</keyword> is recalling 1,744 units of its electric model <keyword id="21666250" type="General" weightage="20" keywordseo="Ioniq-5" source="keywords">Ioniq 5</keyword>, due to an issue with the integrated charging control unit, as per the information available with industry body <keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords" meta.keywordsubtype="org" meta.entityname="SIAM" meta.hostid="261" meta.entityid="SIAM">SIAM</keyword>. The company is recalling the units manufactured between July 21, 2022 and April 30, 2024 to fix the part, data on the SIAM website said. The company is recalling the units due to "potential issue in integrated charging control unit which may discharge 12V battery", it stated. When contacted, a Hyundai company spokesperson said: "At Hyundai Motor India, customer safety is our top priority. The Ioniq 5 recall is a proactive step to inspect and upgrade the Integrated Charging Control Unit (ICCU) in the affected vehicles at no cost to the customers." The company's dedicated teams will be in touch with vehicle owners and guide them through the recall process, the spokesperson said. Price of Ioniq 5 starts at Rs 46.05 lakh (ex-showroom). SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a><a href="https://www.businessinsider.in/business/auto/webstories/bmw-r-1300-gs-superbike-launched-in-india-at-20-95-lakh/slidelist/110971512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/bmw-r-1300-gs-superbike-launched-in-india-at-20-95-lakh/slidelist/110971512.cms" target="_blank">BMW R 1300 GS superbike launched in India at ₹20.95 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-will-reportedly-get-a-100-price-bump/articleshow/110959434.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-will-reportedly-get-a-100-price-bump/articleshow/110959434.cms" target="_blank">Samsung Galaxy Z Fold 6 will reportedly get a $100 price bump</a>

Hyundai Motor India recalls 1,744 units of Ioniq 5

<ul><li>Utility vehicle sales increased 34% year-on-year to 1,81,825 units.</li><li>Two-wheeler dispatches increased to 15,66,594 units from 15,57,429 units a year ago.</li><li>Passenger car dispatches on the other hand declined 10% to 1,20,031 units a year ag .</li></ul> Passenger vehicle wholesales in India rose 9% year-on-year in August on the back of strong demand for utility models, industry body SIAM said on Monday. Overall passenger vehicle dispatches to dealers rose to 3,59,228 units last month from 3,28,376 units in August 2022. Utility vehicle sales increased 34% year-on-year to 1,81,825 units. Passenger car dispatches on the other hand declined 10% to 1,20,031 units from 1,33,477 units in August 2022. Van wholesales also dipped to 11,859 units from 12,236 units. "Last month saw the highest ever August month sales for passenger vehicles and three-wheelers," Society of Indian Automobile Manufacturers (SIAM) President <keyword id="230167" type="General" weightage="40" keywordseo="Vinod-Aggarwal" source="Orion">Vinod Aggarwal</keyword> said in a statement. Three-wheeler sales rose to 64,763 units in August as against 38,369 units in the same month last year. Two-wheeler dispatches increased to 15,66,594 units from 15,57,429 units. "<keyword id="163191" type="General" weightage="60" keywordseo="two-wheeler-sales" source="Orion">Two-wheeler sales</keyword> remained at levels similar to a year ago," Aggarwal said adding that the industry also witnessed a good growth in the commercial vehicle segment in August 2023. "Based on the performance of last month, we are even more optimistic for demand to pick up during the festive season, enabled by positive economic outlook and the revival of monsoon after a deficit in August," Aggarwal said. In the passenger vehicle segment, Maruti Suzuki India saw an increase of 16% in dispatches to dealers at 1,56,114 units from 1,34,166 units in August 2022. Rival Hyundai Motor India dispatched 53,830 units to dealers as against 49,510 units in the same month last year.

August auto sales: Powered by utility vehicles, PV dispatches to dealers increase 9%

Domestic <keyword id="410427" type="General" weightage="20" keywordseo="Passenger-vehicles" source="Orion">passenger vehicles</keyword> wholesales registered a 2.57 per cent year-on-year increase in July at 3,50,149 units, the <keyword id="82374" type="General" weightage="80" keywordseo="society-of-indian-automobile-manufacturers" source="Orion">Society of Indian Automobile Manufacturers</keyword> said on Thursday. As per the latest data issued by the <keyword id="1577311" type="General" weightage="80" keywordseo="society-of-indian-automobile" source="Orion">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>), dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 3,41,370 units in July 2022. Two-wheeler domestic wholesales were down at 12,82,054 units last month, as against 13,81,303 units in July 2022. Three-wheeler wholesales were higher at 56,034 units, as compared to 31,324 units in the year-ago month. Total vehicle dispatches across categories were at 16,40,727 units, as compared to 17,06,545 units in July 2022, SIAM said. "Though the passenger vehicle and three-wheeler segments are performing well, there has been a de-growth of two-wheelers in July 2023, compared to July 2022. "Overall, we expect that the positive economic environment, good monsoons, and upcoming festive season will support continued growth in the auto industry," SIAM President <keyword id="230167" type="General" weightage="50" keywordseo="vinod-aggarwal" source="Orion">Vinod Aggarwal</keyword> SIAM said. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/cash-card-or-talk-rbi-bats-for-conversational-upi-increased-offline-payments/articleshow/102599474.cms">UPI joins the AI bandwagon, offline payments get a push</a> <a href="https://www.businessinsider.in/india/webstories/children-below-the-age-of-18-may-soon-have-to-get-parental-consent-to-use-social-media/slidelist/102601878.cms">Children below the age of 18 may soon have to get parental consent to use social media</a> <a href="https://www.businessinsider.in/tech/news/hp-omen-17-gaming-laptop-review-price-performance-and-design/articleshow/102570650.cms">HP OMEN 17 review: A powerful but heavy gaming laptop with a large display</a>

Domestic passenger vehicle wholesales rise 2.57% in July: SIAM

Domestic passenger vehicles wholesales posted a record in May at 3,34,247 units growing at 13.54 per cent as compared to the same month last year, riding on robust growth of utility vehicle sales, the <keyword id="82374" type="General" weightage="80" keywordseo="society-of-indian-automobile-manufacturers" source="Orion">Society of Indian Automobile Manufacturers</keyword> said on Tuesday. As per the latest data issued by <keyword id="1577311" type="General" weightage="80" keywordseo="society-of-indian-automobile" source="Orion">Society of Indian Automobile</keyword> Manufacturers (SIAM) dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 2,94,392 units in May 2022. SIAM Director General <keyword id="217489" type="General" weightage="80" keywordseo="rajesh-menon" source="Orion">Rajesh Menon</keyword> said sales of passenger vehicles in May 2023 have been the highest ever witnessed for the month of May. Utility vehicle wholesales, excluding that of <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> which shares its numbers quarterly, grew by 33.5 per cent last month at 1,55,184 units, as compared to 1,16,255 units in the year-ago period. Two-wheeler domestic wholesales were at 14,71,550 units, as against 12,53,187 units in May last year, a growth of 17.42 per cent. Motorcycles sales grew by 20.63 per cent at 9,89,120 units last month, as compared to 8,19,940 units in May 2022, SIAM said. Scooter sales also rose 12.18 per cent at 4,46,593 units, as against 3,98,099 units in the year-ago month. Similarly, three-wheeler wholesales were higher at 48,732 units, as compared to 28,595 units in May 2022. Total vehicle dispatches across categories, excluding Tata Motors, were at 18,08,686 units as compared to 15,32,861 units in May 2022, SIAM said. "All the segments viz. passenger vehicles, two-wheelers and three-wheelers have posted growth in double-digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevalent economic environment," SIAM President <keyword id="230167" type="General" weightage="80" keywordseo="vinod-aggarwal" source="Orion">Vinod Aggarwal</keyword> SIAM said. Menon said while two-wheelers also posted a growth of 17.4 per cent in May 2023 compared to last year, the sales were "still lower than 2016-17 levels". He further said, "Domestic sales of three-wheelers in May 2023 grew by 70.4 per cent compared to May 2022, although on a low base, but still lower than the 2018-19 levels." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indigo-aircraft-suffers-tail-strike-on-arrival-at-delhi-airport/articleshow/100959637.cms">IndiGo aircraft suffers tail strike on arrival at Delhi airport</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/urja-global-mistaken-identity-with-musks-tesla-not-the-only-problem/articleshow/100958807.cms">Mistaken identity with Musk’s Tesla is not the only problem for this penny stock</a>

Passenger vehicle wholesales hit record in May at 3,34,247 units: SIAM

<ul><li>Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April.</li><li>Market leader <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India dispatched 1,37,320 units to dealers last month against 1,21,995 units in April last year.</li><li><keyword id="108829" type="General" weightage="80" keywordseo="hyundai-motor-india" source="Orion">Hyundai Motor India</keyword>, on the other hand, sold 49,701 units in April compared to 44,001 units in the year-ago period.</li></ul>New Delhi, May 12 (PTI) Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust across segments, industry body SIAM said on Friday. The total passenger vehicle dispatches from companies to dealers rose to 3,31,278 units last month compared to 2,93,303 units in April 2022. Market leader Maruti Suzuki India dispatched 1,37,320 units to dealers last month against 1,21,995 units in April last year. Hyundai Motor India, on the other hand, sold 49,701 units in April compared to 44,001 units in the year-ago period. Similarly, two-wheeler dispatches last month increased by 15 per cent to 13,38,588 units from 11,62,582 units a year ago. <keyword id="17392672" type="General" weightage="80" keywordseo="motorcycle-wholesales" source="Orion">Motorcycle wholesales</keyword> rose to 8,39,274 units last month from 7,35,360 units in April 2022. Similarly, scooter dispatches rose to 4,64,389 units in April against 3,88,442 units in the year-ago period. The total three-wheeler sales rose to 42,885 units last month from 20,997 units in April 2022. "All the segments, passenger vehicles, two-wheelers and three-wheelers have posted growth in April 2023, compared to April 2022, which clearly indicates that the industry has been able to transit very smoothly to BSVI Phase 2 emission norms from April 1 2023," Society of Indian Automobile Manufacturers (SIAM) President <keyword id="230167" type="General" weightage="80" keywordseo="vinod-aggarwal" source="Orion">Vinod Aggarwal</keyword> stated. As the industry gradually gets into the monsoon season, among other factors, good rainfall can also help the sector sustain its growth, he added. SIAM Director General <keyword id="217489" type="General" weightage="80" keywordseo="rajesh-menon" source="Orion">Rajesh Menon</keyword> said the sales of passenger vehicles last month were the highest ever in April. Two-wheelers also posted a growth of 15 per cent in April 2023 compared to last year, while the domestic sales of three-wheelers have reached nearer to the pre-COVID levels in April, he added. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/artificial-intelligence-takes-center-stage-at-google-i/o-here-are-all-the-ai-announcements-made-at-the-annual-conference/articleshow/100151380.cms">Artificial Intelligence takes center stage at Google I/O: Here are all the AI announcements made at the annual conference</a>

Passenger vehicle dispatches rise 13% in April as demand remained robust: SIAM

New Delhi, Dec 11 () <keyword id="9738461" type="UNKNOWN" weightage="20" keywordseo="passenger-vehicle-wholesales">Passenger vehicle wholesales</keyword> in India increased by 12.73 per cent to 2,85,367 units in November as against 2,53,139 units in the same month last year riding on the back of festive demand, <keyword id="10116109" type="UNKNOWN" weightage="20" keywordseo="auto-industry-body-siam">auto industry body SIAM</keyword> said on Friday. According to the latest data by <keyword id="8927894" type="COMPANY" weightage="20" keywordseo="the-society-of-indian-automobile-manufacturers">the Society of Indian Automobile Manufacturers</keyword> (SIAM), two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year. <keyword id="440917" type="PERSON" weightage="20" keywordseo="motorcycle-sales">Motorcycle sales</keyword> were at 10,26,705 units as against 8,93,538 units in November 2019, up 14.9 per cent. Scooter sales were also up by 9.29 per cent at 5,02,561 units from 4,59,851 units in the same month last year. Three-wheeler sales, however, declined by 57.64 per cent to 23,626 units last month as against 55,778 units in November 2019. "We have witnessed an increase in wholesale numbers in the month of November, where passenger vehicles grew by 12.73 per cent and two-wheelers by 13.43 per cent over the corresponding month of last year, primarily on account of the festive season," SIAM Director General Rajesh Menon said. The retail sales of two-wheelers lag behind the wholesale sales numbers but would even out over a period, as original equipment manufacturers (OEMs) engage with their dealers, he added. "While the festive season brought back some fervor in specific segments, the overall economic scenario would determine the industry's performance going forward," Menon noted. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/8-5-billion-tvs-group-restructures-ownership-of-group-companies-to-scrap-holding-company/articleshow/79672828.cms">$8.5 billion TVS Group restructures ownership of group companies, to scrap holding company</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-is-worth-more-than-the-3-largest-hotel-chains-combined-after-its-stock-popped-143-on-its-first-day-of-trading/articleshow/79672395.cms">Airbnb is worth more than the 3 largest hotel chains combined after its stock popped 143% on its first day of trading</a>

Festive boost: Passenger vehicle sales jump 13% in November, two-wheelers rose 14%

<keyword id="9738461" type="UNKNOWN" weightage="20" keywordseo="passenger-vehicle-wholesales">Passenger vehicle wholesales</keyword> in India increased by 26.45 per cent to 2,72,027 units in September as against 2,15,124 units in the same month last year, <keyword id="10116109" type="UNKNOWN" weightage="20" keywordseo="auto-industry-body-siam">auto industry body SIAM</keyword> said on Friday. According to the latest data by <keyword id="8927894" type="COMPANY" weightage="20" keywordseo="the-society-of-indian-automobile-manufacturers">the Society of Indian Automobile Manufacturers</keyword> (SIAM), two-wheeler sales also rose 11.64 per cent to 18,49,546 units, compared with 16,56,658 units in the same month last year. Motorcycle sales were at 12,24,117 units as against 10,43,621 units in September 2019, up 17.3 per cent. Scooter sales were also up marginally at 5,56,205 units from 5,55,754 units in the same month last year. In the July-September 2020 quarter, passenger vehicles sales increased 17.02 per cent to 7,26,232 units from 6,20,620 units in the same period of last fiscal. Two <keyword id="9684162" type="UNKNOWN" weightage="20" keywordseo="wheeler-sales">wheeler sales</keyword> during the September quarter this fiscal rose marginally to 46,90,565 units as compared with 46,82,571 units in the same period last fiscal. However, commercial vehicles sales saw a dip of 20.13 per cent at 1,33,524 units in the quarter under review as compared with 1,67,173 units in July-September 2019. Vehicle sales across categories during the second quarter declined marginally to 55,96,223 units as against 56,51,459 units in the same period of the previous fiscal. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-jones-ends-lower-for-third-day-as-weak-jobless-claims-stimulus-impasse-weigh-on-sentiment/articleshow/78692395.cms" data-type="tilCustomLink"> Dow Jones ends lower for third day as weak jobless claims, stimulus impasse weigh on sentiment</a> <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-second-quarter-to-see-a-boost-from-cloud-adoption-analysts-expect-it-to-breach-3-5-revenue-growth-guidance/articleshow/78685100.cms" data-type="tilCustomLink">HCL Tech's second quarter to see a boost from cloud adoption — analysts expect it to breach 3.5% revenue growth guidance</a> <a href="https://www.businessinsider.in/defense/news/border-infrastructure-is-not-the-cause-of-friction-between-india-and-china-says-mea-spokesperson/articleshow/78681546.cms" data-type="tilCustomLink">Border infrastructure is not the cause of friction between India and China, says MEA spokesperson</a>

Passenger vehicle in India registers 26% growth in September, apex body SIAM

New Delhi, May 22 () Auto industry body SIAM on Friday hoped that banks would pass on the benefits of the RBI's interest rate cut saying it would support demand creation for discretionary products like automobiles. Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera said the 40-basis point reduction in repo rate, which takes the key policy rate to 4 per cent is a welcome step by the Reserve Bank of India (RBI) to support reduction in the cost of borrowing for traders and consumers and, hence, would positively impact consumer demand. "We are hopeful that banks will pass on the benefit and support demand creation for discretionary products, like automobiles," he added. In a slew of measures to support the economy which is likely to contract for the first time in over four decades, the RBI slashed interest rates, extended moratorium on loan repayments and allowed banks to lend more to corporates. RKL HRS

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