NOVEMBER SAW A 28% RISE IN PASSENGER VEHICLE

FOR BEST STOCK FUTURE TRADING TIPS WHATSAPP ME ON 7772909587 / 8982012608 
According to data released yesterday by the Society of Indian Automobile Manufacturers, India's passenger vehicle wholesales experienced a growth of 28% year-over-year in November.The strong demand for cars and utility vehicles is to blame for the rise. Last month, companies shipped 2,76,231 passenger vehicles to dealers, up from 2,15,626 vehicles in November 2021. Utility vehicle wholesales increased 32% to 1,38,780 vehicles, up from 1,05,091 vehicles a year earlier."Positive consumer and business sentiments have reflected in the better sales in the month of November 2022, compared to the previous year." Similarly, passenger car dispatches increased by 29% to 1,30,142 units from 1,00,906 units in November 2021. Van sales, on the other hand, decreased to 7,309 units from 9,629 units in November 2021. He added that seasonality and softness in key export markets are to blame for a sequential decline in wholesale sales over the course of October 2022. Rajesh Menon, Director General of SIAM, went on to say that passenger vehicle sales have reached their highest level ever since November of 2022-23.
However, dispatches of two-wheelers are still below the level of 2016-17, and dispatches of three-wheelers are still below the level of 2010-11. Customers continue to be concerned about rising interest rates and premiums for long-term insurance. Last month, there were 12,36,190 wholesale two-wheelers sold, up 16% from 10,61,493 the previous year. Last month, there were 7,88,893 motorcycles sold, up from 6,99,949 in November of last year. In a similar vein, scooter wholesales increased from 3,18,986 units in November 2021 to 4,12,832 units in November 2022. The total dispatches of three-wheelers increased to 45,664 units from 22,551 units a year earlier.