October 2024 passenger vehicle sales saw a flat growth, despite the festive season, reports SIAM. In total, 3,93,238 passenger vehicles were sold in October 2024 as compared to 3,89,714 units sold in October 2023, equating to a 0.9 percent YoY growth. However, two-wheelers managed better sales, witnessing a double-digit growth and three-wheeler sales for the month of October 2024 saw a marginal decline.
October 2024 vehicle sales breakup
Let’s start with two-wheeler sales. October 2024 saw a total of 21,64,276 two-wheelers sales as compared to 18,95,799 units sold during October 2023, witnessing a YoY growth of 14.2 percent. Amongst them, motorcycle sales accounted for 13,90,696 units, witnessing a YoY growth of 11 percent, while scooter sales stood at 7,21,200 units, registering a YoY growth of 22.3 percent.
Total three-wheeler sales in October saw a 0.7 percent decline in October 2024 compared to the same period last year. In this segment, the E-carts saw the highest YoY growth at 129.5 percent, while the E-rickshaw segment witnessed the biggest YoY decline, registering a fall of 49.4 percent in October 2024.
October 2024 vehicle sales — Official statement from SIAM
Commenting on October-2024 performance, Rajesh Menon, Director General, SIAM said, “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 the auto industry’s 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.”
He added, “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 the previous year, with sales of 0.77 lakh units in October 2024, although there was growth of 11% in registration, compared to last October,” added Menon.
