Pent-up demand powers PV sales in June

After witnessing a sales setback in May due to several state-wise lockdowns amidst a second Covid wave in the country, the passenger vehicle (PV) segment in India is representing a strong comeback in June, driven primarily by pent-up demand.

The wholesales (factory-to-dealer despatches) numbers for the top 15 carmakers in the country have registered a 148 percent month-on-month (MoM) growth in June to sell a cumulative 255,674 units (May 2021: 103,170). While it wouldn’t be prudent to draw a year-on-year comparison as June 2020 was itself a poor month with weak sales of 116,928 units due to the prevalent ...