Passenger vehicle wholesales in India saw a slight decline of about 2% in August as manufacturers reduced dispatches to manage dealer inventory due to weaker demand. According to data from the Society of Indian Automobile Manufacturers (SIAM), domestic passenger vehicle shipments totaled 3,52,921 units last month, down 1.8% from 3,59,228 units in August 2023.
In contrast, two-wheeler wholesales rose by 9% to 17,11,662 units compared to 15,66,594 units in the same period last year. Scooter dispatches increased by 10%, reaching 6,06,250 units from 5,49,290 units in August 2023.
Motorcycle dispatches also saw an 8% rise, with 10,60,866 units shipped last month, up from 9,80,809 units a year ago. Additionally, three-wheeler sales experienced an 8% growth, climbing to 69,962 units from 64,944 units in August 2023.
Commenting on August-2024 performance, Mr Rajesh Menon, Director General, SIAM said, “In August 2024, Passenger Vehicle segment de-grew by (-)1.8% compared to August 2023, posting a sales of about 3.53 lakh units. Three Wheelers posted a sales of 0.7 Lakh units in August 2024, a growth of 7.7% from the previous peak of August 2023. Two-Wheeler segment also posted a decent growth of 9.3% in August 2024 as compared to August 2023, with sales of 17.12 Lakh units. Looking ahead, as the country enters the festive season, demand for Vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of Government of India.”
