New Delhi, March 10 (SocialNews.XYZ) Low interest rates along with pent-up demand accelerated domestic passenger vehicle sales in February on both year-on-year and sequential basis.
Accordingly, sales of passenger vehicles increased by 17.92 per cent in February 2021, according to data from the Society of Indian Automobile Manufacturers (SIAM) released on Wednesday.
Overall, a total of around 281,380 passenger vehicles were sold last month compared to over 238,622 units during the same period of 2020.
In January 2021, 276,554 units of passenger vehicles were sold.
The category includes sub-segments of cars, utility vehicles and vans.
A total of 155,128 passenger cars were sold in the domestic market up 4.43 per cent from an off-take of 148,541 units sold during 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 45.35 per cent to 114,350, whereas vans' offtake went up by 4.34 per cent to 11,902 units against the same month a year ago.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz