Base effect, along with low interest rates and pent-up demand, accelerated domestic passenger vehicle sales in March 2021 on both year-on-year and sequential basis.
Sales of passenger vehicles increased to 290,939 last month compared to over 135,196 units during the same period of 2020.
In February 2021, 281,380 units of passenger vehicles were sold, including the sub-segments of cars, utility vehicles and vans.
A total of 156,985 passenger cars were sold in the domestic market up from 80,727 units in the like period of 2020.
SIAM said that the data does not include sales figures from some key players such as Tata Motors.
In terms of utility vehicles, sales grew by to 122,350, whereas vans’ offtake went up by 11,604 units against the same month a year ago.
For FY21, the data showed that total domestic PV sales declined by 2.24 per cent to 2,711,457 units from 2,773,519 units during the same period of 2020.