The Indian auto industry has posted a strong comeback after the phased relaxation of the nationwide lockdown, and while month-on-month (MoM) sales figures have been on a constant rise, August 2020 marked the first time since the COVID-19 pandemic struck that passenger vehicle (PV) sales overtook the numbers from a year prior.
- PV sales increased by 20 percent last month, vis-à-vis August 2019.
- August 2020 sales were 18.5 percent higher than July 2020.
- Tata reported the highest YoY growth of 154 percent, albeit on a lower base.
Mass-market automakers posted total sales of 2,34,376 units last month, a substantial 20 percent increase over the 1,95,800 units of sales managed in the same period last year. However, the growth must be viewed against a 31.57 percent year-on-year (YoY) decline that PV sales experienced in August 2019, owing to various economic factors…