Passenger vehicle (PV) wholesales in the domestic market saw a slight year-on-year increase of 0.9 per cent in October, reaching over 3.9 lakh units compared to over 3.8 lakhunits in October 2023, according to data provided by the Society of Indian Automobile Manufacturers (SIAM).
In October 2024, both Dussehra and Diwali fell in the same month, traditionally boosting consumer demand and driving significant gains for the auto industry.
SUV sales showed strong momentum, with overall utility vehicle (UV) volumes rising 14 per cent year-on-year to over 2 lakh units. In contrast, car and van sales declined by 17% and 10% respectively, with volumes at 107,520 units and 11,653 units.
“Passenger vehicles recorded their highest-ever October sales in 2024, reaching 3.93 lakh units, growing by 0.9 per cent despite a high base from last year. The two-wheeler segment also achieved its best-ever October sales at 21.64 lakh units, marking a robust 14.2 per cent growth over October 2023. This growth was further reflected in the Vahan vehicle registration data, which showed over 30 per cent growth in registrations for both PVs and two-wheelers in October 2024 compared to October 2023,” said Rajesh Menon, Director General, SIAM.
Total two-wheeler sales stood at 21,64,276 units in October when compared with over 18.9 lakh units in October 2023.
Scooters (including electric products) reported higher growth of 22 per cent at over 7 lakh units as against over 5.8 lakh units, while motorcycles grew by 11 per cent at over 13.9 lakh units when compared with over 12.5 lakh units. Mopeds volumes declined by 1.5 per cent to 52,380 units in October.
However, three-wheelers marginally de-grew by 0.7 per cent compared to October of the previous year, with sales of 0.77 lakh units in October 2024, although there was growth of 11 per cent in registration, compared to last October, said Menon.
