Base effect, Pent-up demand push India's domestic PV sales higher in July

New Delhi: Base along with low-interest rates and pent-up demand pushed India's domestic passenger vehicle (PV) sales higher on a year-on-year and sequential basis in July.

Accordingly, sales of passenger vehicles increased to 2,64,442 last month compared to 1,82,779 units sold during the same period of 2020.

The PV sales data comprises cars, utility vehicles and vans.

The data furnished by the Society of Indian Automobile Manufacturers (SIAM) showed that PV sales were higher than the 2019 level of 1,90,115 units.

Even on a sequential basis, July sales were higher than 2,31,633 units sold during June.

Further, SIAM said the data does not include sales figures from some key players such as Tata Motors.