Passenger vehicle sales continue to grow in lower single digits in June

The domestic wholesales (dispatches to dealership) of total passenger vehicles (PVs) grew by three per cent year-on-year (YoY) to 3,37,757 units in June as compared with 3,27,788 units in the same month last year, Society of Indian Automobile Manufacturers (SIAM), said on Friday.

• Also read: Domestic passenger vehicle sales up 4% in May at 3.47 lakh units: SIAM

Total three-wheeler sales grew by 12.3 per cent YoY to 59,544 units during the month as against 53,025 units in the corresponding month last year, SIAM said in its monthly sales report.

Total two-wheeler domestic sales also grew by 21.3 per cent YoY to 16,14,154 units last month as compared with 13,30,826 units in June 2023. While the scooter sales grew by 40 per cent YoY to 5,42,851 units (against 3,87,373 units in June 2023), the motorcycle sales grew by 13.4 per cent YoY to 10,30,906 units (against 9,08,954 units) during the month.

The grand total of sales across categories grew by 17.5 per cent YoY to 20,11,455 units during the month as compared with 17,11,639 units in the corresponding month last year.

On the quarterly basis, the total PV domestic sales grew by three per cent YoY to 10,26,006 units as compared with 9,96,565 units in April-June period last year.

Total two-wheelers sales grew by 20.4 per cent YoY to 49,85,631 units during the first quarter this year as compared with 41,40,964 units in the corresponding period last year.

• Also read: Passenger vehicle sales edge up in April despite high-base year

Similarly, total three-wheelers sales grew by 14.2 per cent YoY to 1,65,081 units during the quarter as against 1,44,530 units in the first quarter last year.

The domestic total sales of commercial vehicles (CVs) also grew by 3.5 per cent YoY to 2,24,209 units in the Q1 this year as compared with 2,16,550 units in the same period last year.

Grand total sales of all vehicles across categories grew by 16.4 per cent YoY to 64,01,006 units in the April-June quarter as compared with 54,98,752 units in the corresponding quarter last year, the SIAM report indicated.

“All segments viz., passenger vehicle, commercial vehicle (CV), three-wheeler and two-wheelers posted growth in Q1 of 2024-25 over the Q1 of last year. While PV and CV have witnessed moderate growth, the two-wheelers and three-wheelers have posted very handsome growth in double digits,” Vinod Aggarwal, President, SIAM said.

Within two-wheelers, scooters have posted even higher growth based on some green shoots of recovery in entry level two-wheelers, he said.

“With positive outlook on monsoon and coming festive season, the automotive sector is poised to perform better in the balance part of the year,” Aggarwal added.