New Delhi, July 12 (Agency) Domestic sales of passenger vehicles (PVs) increased 3% year-on-year to 3,37,757 units in the month of June 2024, according to monthly auto sales data released by Society of Indian Automobile Manufacturers (SIAM) on Friday. Domestic passenger vehicle dispatches had stood at 3,27,788 units in June last year. Total three-wheelers sales during June this year rose 12.3% year-on-year to 59,554 units as compared to 53,025 units in the same month last year. The three-wheeler segment includes E-rickshaw and E-cart as well. The two-wheeler segment comprising motorcycles, scooters and mopeds recorded high double-digit year-on-year growth of 21.3% at 16,14,154 units in the month of June this year. “The total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycle in June 2024 was 23,36,255 units,” SIAM said in a media release.
Cumulatively, passenger vehicle sales grew 3% year-on-year to 10,26,006 units in April-June period (Q1) of current financial year 2024-25 as against 9,96,565 units in the same period of the preceding financial year. Within the passenger vehicle segment, sales of passenger cars during the Q1 of FY25 nosedived 17.5% year-on-year to 3,41,293 units as compared to 4,13,723 units in the corresponding period of FY24. In April-June period of FY25, domestic commercial vehicle sales increased 3.5% year-on-year to 2,24,209 units. The total three-wheeler sales jumped 14.2% to 1,65,081 units in this period as compared to 1,44,530 units in Q1 of FY24. The two-wheeler sales in Q1 of the current fiscal surged 20% year-on-year to 49,85,631 units. As per SIAM, the total production of passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycle in April-June 2024 was 75,48,668 units. Commenting on sales data of Q1 for 2024-25, Vinod Aggarwal, President, SIAM said, “All segments viz., passenger vehicle, commercial vehicle, three-wheeler and two-wheelers posted growth in Q1 of 2024-25 over the Q1 of last year. While passenger vehicles and commercial vehicles have witnessed moderate growth, the two wheelers and three wheelers have posted very handsome growth in double digits.
Within two-wheelers, scooters have posted even higher growth based on some green shoots of recovery in entry level two-wheelers.” He further said that the automotive sector is poised to perform better in the balance part of the year on the back of positive outlook for the monsoon and the coming festive season. Rajesh Menon, Director General, SIAM added, “Sales of passenger vehicles in Q1 of 2024 has been the highest ever of Q1 and also crossed 1 million units in Q1 for the first time, with a growth of 3%, compared to the previous year. Sales of three-wheelers in Q1 of 2024-25 grew by 14.2% compared to last year, with 1.65 lakh units, which is again the highest ever in Q1. Two-wheelers also posted a growth of 20.4% in this quarter, compared to last year, with sales of 4.99 million units while commercial vehicles posted growth of 3.5% in Q1, compared to last financial year, with sales of 2.24 lakh units.”