January 03, 2025 01:26 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Punjab cop dismissed for facilitating TV interview of Larence Bishnoi while in custody | 'Not Veer Savarkar', Congress student wing demands Delhi college be named after Manmohan Singh | 'Cowardly': PM Modi condemns New Orleans terrorist attack that killed 15 | Prashant Kishor starts fast unto death over Bihar Public Service Commission prelims cancellation demand | Bangladesh court denies bail to arrested Hindu monk Chinmoy Krishna Das | Tesla Cybertruck with fuel and fireworks explodes near Donald Trump's Las Vegas hotel, 1 killed | US: Mass shooting at a New York nightclub, 11 people shot | Truck driver who rammed into New Orleans crowd flying ISIS flag identified as US Army veteran Shamsud-Din Jabbar | SRK, Akshay Kumar praise PM Modi's global initiative to take Indian cinema to a greater scale | Manipur CM N Biren Singh responds after Congress leader asks him 'why can't PM' visit' violence-hit northeastern state
PV Sales
Image credit: Pixabay

2022 PV sales likely to exceed estimates

| @indiablooms | Aug 10, 2022, at 05:10 am

Passenger Vehicle (PV) sales will rise compared to CY20 and CY21 as the manufacturers are ready to cater to the healthy demand in the category as supplies from Original Equipment Manufacturers (OEM) improves.

According to industry experts, the sale is likely to go over a quarter of a million with producers stepping up production and clearing backlogs, said media reports.

New bookings are pouring in riding on pent-up demand and need for personal mobility, experts said, reports added.

In July, the automotive industry witnessed the highest-ever monthly wholesale despatches of passenger vehicles at 342,326 units, exceeding the previous best of 334,471 units in October 2020.

This calendar year, the sales of cars, utility vehicles, and vans are expected to be up 17-20 percent to 3.6 million to 3.7 million, reported ET.

By the end of this fiscal year, the sales are likely to go beyond the projection of 3.5 to 3.7 million owing to the strong demand environment.

There has been a rebound in the sale of PVs which had been badly hit at the onset of the pandemic. However, chip shortage forced manufacturers to restrict production even as demand outpaced production.

As healthy demand continues and the supply of semi-conductor picks up, many premium range SUVs are ready to hit the Indian market during the festive season.

Maruti's Grand Vitara, and Toyota's Urban Cruiser Hyryder, both mid-size SUVs, are up for launch.

Hyundai will launch Tucson and MG will introduce Hector during the upcoming season apart from Mahindra, which will begin customer deliveries of the new Scorpio-N premium SUV starting from the end of September.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.