The Society of Indian Automobile Manufacturers (SIAM) reported a substantial increase in two-wheeler sales in India for June, with a year-on-year (Y-o-Y) increase of 21.3%. The total two-wheeler sales marked 16,14,154 units in June, compared to 13,30,826 units sold during the same period last year.
Commenting on the sales data of Q1 for 2024-25, Mr Vinod Aggarwal, President, SIAM said, “All segments viz., Passenger Vehicle, Commercial Vehicle, Three-Wheeler and Two-Wheelers posted growth in Q1 of 2024-25 over the Q1 of last year. While Passenger Vehicles and Commercial Vehicles have witnessed moderate growth, the Two Wheelers and Three Wheelers have posted very handsome growth in double digits. Within Two-Wheelers, Scooters have posted even higher growth based on some green shoots of recovery in entry level two wheelers. With positive outlook on monsoon and coming festive season, the Automotive Sector is poised to perform better in the balance part of the year.”
Mr Rajesh Menon, Director General, SIAM said, Sales of Passenger Vehicles in Q1 of 2024 has been the highest ever of Q1 and also crossed 1 million units in Q1 for the first time, with a growth of 3%, compared to the previous year. Sales of Three-Wheelers in Q1 of 2024-25 grew by 14.2% compared to last year, with 1.65 Lakh units, which is again the highest ever in Q1. Two-Wheelers also posted a growth of 20.4% in this Quarter, compared to last year, with sales of 4.99 million units while Commercial Vehicles posted growth of 3.5% in Q1, compared to last financial year, with sales of 2.24 Lakh units.”
Scooter sales showed a notable surge, rising by 42% Y-o-Y to 5.4 lakh units in June, up from 3.8 lakh units in June of the previous year. Motorcycles also experienced growth, with sales increasing by 11%, recording 10.3 lakh units in June compared to 9.1 lakh units last year.
Passenger vehicle sales saw a reasonable Y-o-Y growth of 3% in June. The total passenger vehicle sales reached 3,37,757 units, up from 3,27,788 units in June 2023.
Three-wheeler sales also observed a notable boost, with an increase of 12.3%. In June 2024, 59,544 units of three-wheelers were sold, compared to 53,025 units in June 2023.
The data for June indicates a positive outlook for the Indian automobile industry, reflecting a resilient and expanding market for different vehicle segments. In May, however, there was a downturn in the sales of passenger cars.
According to SIAM’s data, domestic sales of passenger cars dropped by over 11%, from 1,20,364 units in May 2023 to 1,06,952 units in May 2024.
Production of passenger cars also decreased by 13%, with figures dropping from 1,63,619 units in May 2023 to 1,42,367 units in May 2024. Additionally, the export of passenger cars saw a decline of about 20%, from 35,806 units in May 2023 to 28,802 units in May 2024.
However, the considerable sales numbers in June provided evidence of growth in the overall automobile industry.
