India’s Jan passenger vehicle sales rise over 11% YoY

Base effect along with low interest rates and pent-up demand accelerated domestic passenger vehicle sales in January on a year-on-year basis.

However, the sales momentum slowed on sequential basis.

Sale of passenger vehicles increased by 11.14 per cent in January 2021, according to data from the Society of Indian Automobile Manufacturers (SIAM) released on Thursday.

A total of around 276,554 lakh passenger vehicles were sold last month compared to over 248,840 lakh units during the same period of 2020.

The category includes sub-segments of cars, utility vehicles and vans.

However, 153,244 passenger cars were sold in the domestic market down 1.16 per cent from an off-take of 155,046 units sold during the like period of 2020.