The Society of Indian Automobile Manufacturers (SIAM), the apex body representing automakers in the country has released the wholesales data for January 2024.
The overall wholesales for January came at 19.41 lakh vehicles, up 23 percent, compared to 15.79 lakh units sold last year.
In terms of segment-wise performance, the two-wheeler sales picked up across categories, with 487,534 scooters sold, up 30 percent YoY; 965,613 motorcycles sold, up 25 percent YoY and 42,036 mopeds sold, up 14 percent YoY respectively.
The three-wheeler segment continued to see resilience with overall sales growing up 9 percent at 53,537 units.
The passenger vehicle segment continued to see robust demand for SUVs, which continues to counter the slowdown in demand for passenger cars. In January a total of 393,074 passenger vehicles were sold, registering a growth of 14 percent YoY. Of this, while the passenger cars segment sales dropped by 8 percent, SUVs grew by 35 percent and Vans 2 percent respectively.
Vinod Aggarwal, President, SIAM said, “Passenger vehicle sales have remained resilient led by positive consumer sentiments, while two-wheeler segment witnessed good growth in January as well, as the rural market continues to recover. Three-wheeler segment has also performed better. Though the commercial vehicle Sector did not grow in January 2024, it is likely to see good offtake in next 2 months of this financial year. Government’s strategic focus on mobility in Budget 2024, including strengthening the electric vehicle ecosystem, especially the charging infra and public transport, should help in continuing with the overall growth momentum for the auto sector.”
Rajesh Menon, Director General, SIAM said, “Passenger vehicles again saw highest ever sales in the month of January posting a growth of 14 percent, as compared to the previous year. Three-wheeler sales grew by 9 percent during January 2024 while two-wheelers posted a good growth of 26 percent in January 2024, compared to January 2023. Passenger vehicles and three-wheelers continue to post their highest ever sales till date, in FY24, for the period April to January.”
| AUTOMOTIVE SALES IN INDIA | ||||
| Jan ’24 | Jan ’23 | Change (in units) | Change (in %) | |
| Passenger Vehicles (PVs) | ||||
| Passenger cars | 126,505 | 136,931 | -10,426 | -8% |
| Utility Vehicles (UVs) | 200,917 | 149,328 | 51,589 | 35% |
| Vans | 12,019 | 11,834 | 185 | 2% |
| Total PVs* | 393,074 | 346,080 | 46,994 | 14% |
| Three-Wheelers | ||||
| Passenger Carrier | 41,837 | 37,061 | 4,776 | 13% |
| Goods Carrier | 10,000 | 8,346 | 1,654 | 20% |
| E-Rickshaw | 1,262 | 3,188 | -1,926 | -60% |
| E-Cart | 438 | 308 | 130 | 42% |
| Total Three-wheelers | 53,537 | 48,903 | 4,634 | 9% |
| Two-Wheelers | 0 | |||
| Scooter | 487,534 | 376,032 | 111,502 | 30% |
| Motorcycle | 965,613 | 771,621 | 193,992 | 25% |
| Mopeds | 42,036 | 36,723 | 5,313 | 14% |
| Total Two-Wheelers | 1,495,183 | 1,184,376 | 310,807 | 26% |
| Quadricycle | 33 | 72 | -39 | -54% |
| Grand total | 1,941,827 | 1,579,431 | 362,396 | 23% |
| *Total PV sales includes Tata Motors sales. Detailed breakup not available | ||||
