SIAM reported that in August 2024, the passenger vehicle segment experienced a 1.8% decline compared to August 2023, with sales totaling 3.53 lakh units. Looking forward, as the festive season approaches, there is an anticipated increase in vehicle demand, further supported by recent government initiatives like PM E-DRIVE and PM eBus Sewa schemes, according to Rajesh Menon, the Director-General at SIAM. The overall total for all categories grew by 7.2% year-on-year to 21.34 lakh units in August, surpassing the 19.9 lakh units recorded in August 2023. Over the last five months from April to August, domestic PV sales increased by 1.2% to 16.31 lakh units compared to 16.13 lakh units in the previous year. Three-wheeler sales surged by 10.7% to 2.94 lakh units during this period, up from 2.65 lakh units in the April-August period of the previous year. Two-wheeler sales also experienced significant growth, rising by 16.4% to 81.38 lakh units in the April-August period compared to 69.89 lakh units in the same period in 2023. Scooter sales saw a remarkable increase of 24% to 28.24 lakh units from 22.76 lakh units in the April-August period of 2023. Motorcycle sales witnessed a growth of 12.7% to 51.09 lakh units in the April-August period, surpassing the 45.35 lakh units sold during the same period last year, as per SIAM. Overall, all categories collectively grew by 13.5% to 1 crore units between April and August this year, up from 88 lakh units in the same period last year.

The post Indian Automobile Industry Records Mixed Sales Performance in August 2024: Insights and Analysis appeared first on Vizag One.

The government has mobilized agencies like NAFED and NCCF to facilitate the distribution of onions at subsidized prices to the public through various channels such as central stores and mobile vans. Similar initiatives were undertaken last year during a similar price surge in tomatoes and onions, demonstrating the government’s commitment to ensuring food security for all citizens.

Moreover, in addition to onions, the government is also offering flour, pulses, and rice at affordable rates to combat inflation and support the populace during these challenging times. These essential food items are part of the government’s strategy to provide cost-effective options for households facing economic pressures.

The recent spike in onion prices can be attributed to adverse weather conditions, particularly heavy rains in Maharashtra, disrupting the onion supply chain and leading to a rise in wholesale and retail prices. To address this issue, the government plans to release onions from its buffer stock into the market, which is expected to stabilize prices and alleviate concerns about further escalation.

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