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India Auto Sales Hit Record July: SIAM Data Shows 34% PV Jump
SIAM data shows PV sales rose 34% to 457,810 units in July, two-wheelers climbed 23% to 1.92 million units. Momentum rolls into the festive season with strong consumer sentiment expected.
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India's auto industry posted its strongest July on record, with every major segment growing at a double-digit clip. Passenger vehicle sales rose 34% year-on-year to 457,810 units, three-wheeler sales jumped 33% to 92,560 units, and two-wheelers – the biggest category – climbed 23% to 1.92 million units, according to data released Thursday by the Society of Indian Automobile Manufacturers (SIAM).
“India’s auto industry delivered its strongest-ever July sales, with robust double-digit growth across passenger vehicles, three wheelers and two wheelers,” SIAM Director General Rajesh Menon said. The momentum, he added, has held for several months and is rolling into the festive season with consumer sentiment expected to stay strong.