The total domestic wholesale (dispatches to dealers) of passenger vehicles (PVs) in June grew two per cent year on year (YoY) to 3,27,487 units in June compared with 3,20,985 units in the corresponding month last year.

According to the monthly sales report from Society of Indian Automobile Manufacturers (SIAM), the domestic sales of utility vehicles (UV) grew 16 per cent YoY to 1,54,520 units during the month as against 1,33,076 units in June 2022.

However, sales of passenger cars declined by 12 per cent YoY to 1,16,375 units last month as compared with 1,32,342 units in June last year.

In the three-wheeler segment, the total sales almost doubled to 53,019 units during the month, as compared with 26,701 units in June 2022.

Growth in 2-wheeler sales

In the two-wheeler segment, total sales grew by two per cent YoY to 13,30,826 units in June, as compared with 13,08,300 units in the corresponding month last year.

While motorcycle sales grew to 9,08,954 units (against 8,49,928 units), scooter sales declined to 3,87,373 units (against 4,21,362 units in June 2022).

In the April-June quarter, PV sales grew by nine per cent YoY to 9,95,974 units as compared with 9,10,495 units in the corresponding period last year.

Similarly, total two-wheeler sales grew by 11 per cent YoY in the first quarter to 41,40,964 units as compared with 37,24,533 units in the April-June quarter of 2022.

The total three-wheeler sales grew by 89 per cent YoY to 1,44,475 units in the last quarter, as compared with 76,293 units in the corresponding quarter last year.

Positive outlook

“In the quarter, the auto industry seamlessly transitioned to the very stringent BS6 Phase 2 emission norms from April 1 reflecting the commitment of the Industry towards the environment. Overall passenger vehicles, two-wheelers, three-wheelers, and commercial vehicles have performed well in Q1 of 2023–24, although some sub-segments have shown a slight momentary decline compared to Q1 of last year,” Vinod Aggarwal, President, SIAM, told media.

With expectations of a reasonable monsoon coupled with lowering inflation, the industry expects the economy to continue to grow, which in turn should help the auto sector. However, high interest rates remain a concern, he said.

The grand total of domestic sales across segments also grew by 11 per cent YoY in the first quarter to 54,98,602 units, as compared with 49,35,910 units in the corresponding quarter last year.

“Sales of Passenger Vehicles in Q1 of April–June 2023 have been the highest ever, with a growth of 9.4 per cent, compared to the previous year. The PV segment crossed two million units in the first half of the calendar year for the first time. Two-wheelers also posted a growth of 11.2 per cent in this quarter, compared to last year, but are still lower than 2016-17 levels,” Rajesh Menon, Director General, SIAM, said.

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