Passenger Vehicle Wholesales See Modest Increase To 3,93,238 Units In October: SIAM

On the other hand, moped sales saw a slight decline, falling to 52,380 units in October 2024, compared to 53,162 units in the same month the previous year

Driven by strong festive demand, domestic passenger vehicle wholesales saw a slight year-on-year (YoY) increase, reaching 393,238 units in October, according to the Society of Indian Automobile Manufacturers (SIAM) report released on Wednesday. 

In comparison, the total passenger vehicle dispatches from manufacturers to dealers stood at 389,714 units in October of the previous year. This marginal growth highlights the positive impact of the festive season on the automotive sector.

Total two-wheeler sales saw a notable 14 per cent YoY increase, reaching 2,164,276 units in October, compared to 1,895,799 units in the same month last year, according to a statement from the SIAM. 

Scooter sales experienced a significant 22 per cent rise, with dispatches of about 721,200 units in October. Meanwhile, motorcycle sales also grew by 11 per cent, reaching 1,390,696 units, up from 1,252,835 units in October 2023. 

On the other hand, moped sales saw a slight decline, falling to 52,380 units in October 2024, compared to 53,162 units in the same month the previous year. 

As for three-wheelers, dispatches to dealers experienced a marginal dip to 76,770 units in October, down from 77,344 units in October 2023. Despite the overall growth in the two-wheeler segment, the three-wheeler market showed a slight contraction in sales.

"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," SIAM Director General Rajesh Menon said.

Passenger vehicle sales reached a record high for October 2024, totalling 393,000 units, marking a 0.9 per cent increase despite the high sales base in October 2023. Similarly, the two-wheeler segment also recorded its best-ever October sales in 2024, Menon noted.

"This high growth was also reflected in the Vahan vehicle registration data, wherein more than 30 per cent growth in registration was witnessed for both passenger vehicles and two-wheelers in October 2024, compared to October 2023," he added. 

Car loan Information: