India’s automotive industry experienced mixed outcomes in November 2024, according to the Society of Indian Automobile Manufacturers (SIAM). While passenger vehicle dispatches rose, the two-wheeler and three-wheeler segments saw slight declines compared to November 2023. The increase in passenger vehicle sales reflects sustained demand following the October festive season.
Discussing the industry’s November 2024 performance, SIAM’s Director General, Mr. Rajesh Menon, stated, “The demand momentum observed during October’s festive period continued into November for the overall industry, despite minor de-growth in the Two-Wheeler and Three-Wheeler segments. Passenger Vehicles achieved record-high November sales of 3.48 lakh units, marking a 4.1% growth compared to November 2023. Although the Diwali festival did not fall in November 2024, Two-Wheeler sales reached 16.05 lakh units, surpassing the 16-lakh mark for the first time in a non-Diwali November, though registering a slight decline of (-)1.1% year-on-year. Similarly, Three-Wheeler sales totaled 0.59 lakh units, reflecting a marginal de-growth of (-)1.3% compared to November 2023.”
Passenger vehicle dispatches to dealerships increased by 4% year-over-year in November 2024, totaling 347,522 units, up from 333,833 units in November 2023. This marks the highest-ever sales for passenger vehicles in November.
Maruti Suzuki India, the market leader, reported a 5% growth in dispatches, delivering 141,312 units to dealerships last month, compared to 134,158 units in November 2023.
Hyundai Motor India’s dispatches decreased slightly to 48,246 units in November 2024, down from 49,451 units in the same month the previous year.
Mahindra & Mahindra experienced significant growth, with dispatches reaching 46,222 units in November 2024, a 16% increase compared to 39,981 units in November 2023.
Two-wheeler wholesales saw a 1% year-over-year decline, totaling 16,04,749 units in November 2024, compared to 16,23,399 units in November 2023.
Within the two-wheeler segment, scooter sales increased by 12% to 568,580 units. Motorcycle dispatches, however, decreased by 7.5% to 990,246 units.
Moped wholesales saw a 6% year-over-year increase, reaching 45,923 units in November 2024, compared to 43,482 units in November 2023.
Three-wheeler dispatches also declined by 1% year-over-year, totaling 59,350 units in November 2024.
