The domestic sales of three-wheelers in September has been the highest uptick this fiscal.
According to data by the Society of Indian Automobile Manufacturers (SIAM), a total of 50,626 units were domestically sold in September, compared with 29,191 units in the same month last year.
Between April and September, as many as 1,96,500 units were domestically sold and 2,12,126 units were exported, the data showed. In 2021, the overall domestic sales in that period were 95,451 units and the exports were 2,58,012 units.
While the domestic sales of three-wheelers grew sharply, the export market witnessed a dip with only 32,642 units being shipped in September, compared with 44,166 units in August. The highest exports in a month, between April and September, was done in August.
‘Much-needed cheer’
The reason for the spike in domestic sales could be attributed to the festival season demand.
“The festival season has brought in some much-needed cheer to the market with lucrative offers, and higher buying sentiments. We are happy to report a 94 per cent growth in sales when compared y-o-y and more than 20 per cent when compared m-o-m,” said Suman Mishra, CEO of Mahindra Electric – Last Mile Mobility.
In September, “Mahindra’s EV penetration touched 70 per cent, showing that electric vehicles are the preferred choice among customers, this festival season,” Mishra added.