The festive season is going on in India and increasing sales in this season is good news for the auto industry. The Indian auto industry sold 23,90,295 vehicles in October 2020, a figure of 20,95,902 vehicles in the same month last year, showing a growth of 14.04 percent. Last month, passenger car sales grew by 9.68 percent to 1,82,692 vehicles from 1,66,568 vehicles in October 2019. Utility vehicle sales have also seen a strong increase of 20.45 percent where companies have sold 1,13,990 vehicles in October 2020, which was down to 94,637 vehicles in the same month last year. The van segment has also seen a significant growth of 29.24 percent. The total sales of passenger vehicles stood at 3,10,294 units last month, up from 2,71,737 units in October 2019, showing a growth of 14.19 percent.
In terms of exports, the auto industry has seen a growth of 25.64 percent in the previous month, with total exports of 3,71,013 units in October 2020 as compared to 2,95,292 units in the same month last year. Between April and October 2020, 93,12,601 vehicles have been sold in the domestic market, which was 1,34,55,540 vehicles during the same period last year and shows a decline of 30.78 percent in the market.