Passenger vehicle sales up 0.9% on year in October, 2W sales soar 14.2%

SIAM stated today that the total production of Passenger Vehicles, Three Wheelers, Two Wheelers, and Quadricycle in October 2024 was 28,82,996 units. Domestic sales of Passenger Vehicles were 3,93,238 units in October 2024. Three-wheeler sales were 76,770 units in October 2024. Two-wheeler sales were 21,64,276 units in October 2024. Rajesh Menon, Director General, SIAM noted that October 2024 saw two major festivals Dussehra and Diwali, both occurring in the same month, which traditionally drive higher consumer demand providing a significant boost to Auto industrys performance. Passenger Vehicles posted its highest ever sales of October in 2024 of 3.93 Lakh units, with a growth of 0.9%, albeit on a high base of last October. Two-Wheeler segment also posted the highest ever sales of October in 2024 with 21.64 Lakh units, with a good growth of 14.2%, compared to October 2023. This high growth was also reflected in the Vahan vehicle registration data, wherein more than 30% growth in registration was witnessed for both Passenger Vehicles and Two-Wheelers in October 2024, compared to October 2023. However, Three-Wheelers marginally de-grew by (-) 0.7% compared to October of previous year, with sales of 0.77 lakh units in October 2024, although there was growth of 11% in registration, compared to last October.

Powered by Capital Market - Live News