Maruti Suzuki reported a 21.7 per cent YoY growth in domestic wholesale to 115,325 units in August. Hyundai Motor India, country’s second largest passenger vehicle manufacturer, also witnessed a 19 per cent YoY rise in domestic wholesale to 45,809 units.
Vehicle manufacturers increased inventory amid expectation that retail sales would pick up during festivals in October-December period. Dispatches of utility vehicles grew 15.54 per cent YoY to 81,842 units as companies, such as Maruti Suzuki India, Hyundai Motor India, and Kia Motors India, increased wholesales of their respective sport utility vehicles to meet rising demand.
“Growth of 14 per cent in passenger vehicles and 3 per cent in two-wheelers in August 2020 indicates trends of recovery for the industry, though it is against the backdrop of pent-up demand and the beginning of festive season,” Ayukawa said.
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