Passenger vehicle sales rose over 15 per cent in July driven by restocking of vehicles at dealerships after GST implementation.
According to data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales rose by 15.12 per cent to 2,98,997 units in July from 2,59,720 units in the same month last year.
Car sales were up 8.52 per cent at 1,92,773 units as against 1,77,639 units in July last year. Utility vehicles sales also rose by 35.72 per cent to 86,874 units.
“In June, dealers were liquidating their stocks while the reverse has happened in July. Dealers have replenished their stocks across segments last month,” SIAM Director General Vishnu Mathur told reporters here.