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- SIAM Said, passenger vehicle sales increased by 4%, two-wheelers by 10% compared to this year in May
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In May 2024, the total production volume of passenger vehicles, two-wheelers, three-wheelers and rvadri-bicycles (small 4-wheelers) was 24.55 lakh units.
In May, sales of passenger vehicles increased by 4% to 3,47,492 units compared to the same period last year. Society of Indian Automobile Manufacturers (SIAM) gave this information in one of its reports.
SIAM said 55,763 three-wheelers were sold in May, while two-wheeler sales stood at 16,20,084 units. Three-wheeler sales in May were 14.7% higher than 48,610 units in the same period last year. Two-wheeler sales also increased by 10.1% from 14,71,550 units in the same period last year.
Auto Industry Expects Stable Growth in 2024-25: SIAM President
SIAM President Vinod Aggarwal said, “All segments such as passenger vehicles, commercial vehicles, two-wheelers and three-wheelers registered growth in May 2024 compared to May 2023. Only marginal growth was seen in passenger vehicles, mainly due to the high base effect of last year.
Aggarwal said that with the expectation of a better than normal monsoon and the new government’s continued emphasis on economic growth, we also expect steady growth in the automobile industry in 2024-25.
Sales of passenger vehicles in May increased by 4% to 3,47,492 units compared to the same period last year. In May 2023 it was 3,34,537 units.
Passenger car sales are highest ever in May
SIAM Director Rajesh Menon said, “Passenger vehicle sales in May 2024 were the highest ever in May. However, there was a marginal growth of 3.9% compared to May 2023.
Total production in May 2024 was 24,55,637 units
According to SIAM data, the total production of passenger vehicles, three-wheelers, two-wheelers and bicycles was 24,55,637 units in May 2024.
1% decline in retail sales of domestic passenger vehicles in May: FADA
Meanwhile, according to FADA, retail sales of domestic passenger vehicles fell 1% year-on-year in May. The FADA said the extreme heat and the elections affected demand.
Two-wheeler sales rose 2% to 15,34,856 units in May
According to FADA, two-wheeler sales in May increased by 2% to 15,34,856 units and three-wheeler sales increased by 20% year-on-year to 98,265 units.
FADA said sales of commercial vehicles rose 4 percent to 83,059 units compared to 79,807 units last year.
