The July auto sales numbers have shown signs of improvement after the coronavirus-led pandemic hit the sector hard. A sharp month-on-month jump was witnessed in car and SUV sales, supported by an uptick in demand from the rural and semi-urban markets.Despite lockdowns in several states, July wholesales improved on a sequential basis, supported by pent-up demand, better rural sentiment and improved dispatches due to higher plant utilisation levels. However,volumes still were lower than last year’s levels across segments, except for tractors.Wholesale volumes of four of India’s top five passenger vehicle (PV) makers recorded a jump of 80 percent in July to 152,379 units as against 84,535 units sold in June.Close Tractor sales, as expected, did better. Tractor dispatches grew about 9.5 percent year-on-year (YoY) in July. Domestic sales increased by nearly 9.9 percent YoY while exports grew by about 3.9 percent YoY. related news Moneycontrol Readers’ Survey: Technology, pharma to dominate post-COVID world; will financials lose their clout completely? Slideshow | Titan, RIL, SBI among 10 buying ideas that can return up to 48% The management of Escorts, one of the leading tractor makers of the country, said the situation has been continuously easing over the last few days of July… Read full this story
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