
The Indian auto industry reported a 3.1% growth in Q3 FY25, as highlighted in a report by the Society of Indian Automobile Manufacturers (SIAM). This growth was driven by the country’s stable macroeconomic environment, which supported positive momentum across various vehicle segments.
The passenger vehicle segment led the growth with a 4.5% year-on-year (YoY) increase, recording sales of 10,58,145 units in 2024, up from 10,12,285 units in 2023. The two-wheeler segment also showed robust performance, achieving a 3% YoY growth with sales of 48,74,590 units compared to 47,31,436 units in Q3 FY24.
From April to December 2024, the industry experienced an overall growth of 9.2%, mainly driven by the two-wheeler, three-wheeler, and passenger vehicle segments. However, the commercial vehicle segment saw a decline in performance.
In Q3 FY25, the commercial vehicle segment posted a slight growth of 1.2%, with 2,38,050 units sold, up from 2,35,262 units. The three-wheeler segment showed marginal growth of 0.2%, with 1,88,853 units sold compared to 1,88,434 units in Q3 FY24.
Overall, the auto industry registered total wholesales of 63,59,647 units in Q3 FY25, an increase from 61,67,583 units in the same quarter of the previous year.
Commenting on the 2024 sales data, Mr. Shailesh Chandra, President of SIAM, stated, “2024 has been a favorable year for the auto industry. Positive consumer sentiment and the country’s macroeconomic stability have driven steady growth across various vehicle segments. The two-wheeler segment was the primary growth driver, expanding by 14.5% over the previous year, with sales reaching 1.95 crore units. Additionally, passenger vehicles and three-wheelers achieved their highest-ever sales in a calendar year.
Passenger vehicle sales grew by 4.2% in 2024, totaling around 43 lakh units, while the three-wheeler segment recorded a 6.8% increase, with sales of 7.3 lakh units. However, the commercial vehicle segment saw a slight decline of 2.7%, with 9.5 lakh units sold. Despite this, signs of recovery were evident in Q3 FY25.
The stable policy environment maintained by the Government of India throughout 2024 has significantly supported the industry’s growth. As we enter the new year with optimism fuelled by events like the Bharat Mobility Global Expo, we expect this momentum to continue driving growth in 2025.”
Commenting on the Q3 sales data, Mr. Rajesh Menon, Director General of SIAM, remarked, “Passenger Vehicles, Commercial Vehicles and Three-Wheelers achieved their highest-ever sales for Q3, while Two-Wheelers recorded their second-highest sales for the quarter.
Passenger Vehicles grew by 4.5% in Q3 FY25, with sales reaching 1.06 million units compared to the previous year. The Three-Wheeler segment saw a modest growth of 0.2%, with sales of 1.89 lakh units. Two-Wheelers posted a 3% increase, with sales of 4.9 million units, and Commercial Vehicles experienced a 1.2% growth, with 2.38 lakh units sold in Q3, compared to the same period last year.”
Mixed performance across segments: The passenger vehicle industry grew 1.8% Y-o-Y in April-December 2024, with 31,39,288 units sold compared to 30,83,245 in FY24. However, the commercial vehicle segment declined by 2.3% Y-o-Y, with 6,83,471 units sold in FY25 compared to 6,99,850 units in FY24. The three-wheeler industry grew by 6.4% with 5,62,652 units sold in FY25, while the two-wheeler segment showcased the highest growth of 11.6% Y-o-Y, with 1,50,39,570 units sold in FY25 compared to 1,34,70,842 in FY24.
