Domestic passenger car wholesales (dispatches to dealers) in December declined by seven per cent year-on-year (y-o-y) at 1,04,601 units, compared to 1,12,873 units in the same month previous year, according to the latest monthly data by Society of Indian Automobile Manufacturers (SIAM).

However, the utility vehicle (UV) segment, which is has been growing, has grown 23 per cent y-o-y at 1,20,015 units, compared to 97,137 units in the corresponding month of the previous year.

The growth in UV segment has pushed total passenger vehicle (PV) sales by seven per cent y-o-y to 2,35,309 units during the month, when compared to 2,19,421 units in December 2021.

Total three-wheeler sales also grew by 37 per cent y-o-y to 28,184 units last month, when compared to 38,693 units in the corresponding month of 2021.

Total two-wheeler sales grew by three per cent y-o-y to 10,45,052 during the month, when compared to 10,15,942 units in December the previous year. While scooter sales grew 15 per cent, motorcycle sales declined marginally.

The grand total of all categories put together has grown by four per cent y-o-y during the month at 13,19,074 units, against 12,63,557 units in December 2021.

“Festive season has helped in returning good sales numbers for all the segments. However, weakness in rural demand continues, as high food inflation and increased financing cost is impacting the rural market,” said Rajesh Menon, Director General, SIAM.

On calendar year (CY) basis, the total PV sales grew by 23 per cent y-o-y 37,92,356 units, compared to 30,82,421 units in CY21. Similarly, total two-wheeler sales grew by more than seven per cent to 1,56,07,991 units last calendar year, compared to 1,45,33,815 units in January-December 2021.

Total commercial vehicle also grew by 38 per cent to 9,33,116 units last year as compared with 6,77,116 units in CY2021.

“Passenger vehicles have reported highest-ever sales of 3.8 million units, which is about four-lakh units higher than the last peak in 2018. Commercial Vehicles reported sales of 9.3 lakh units which, is just about 72,000 units lower than the earlier peak in 2018. Three-wheeler sales are still lower than 2010 sales and two-wheeler lower than 2014,” said Vinod Aggarwal, President, SIAM.