The total domestic passenger vehicle (PV) wholesale (dispatches to dealers) grew by around 13.53 per cent year-on-year (y-o-y) to 3,34,247 units in May compared with 2,94,392 units in the corresponding month last year.
According to the monthly sales data shared by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday, the sales of utility vehicles (UVs) grew 33.48 per cent y-o-y to 1,55,184 units (1,16,255 units). The figures do not include Tata Motors’ as it does not share its monthly sales data with SIAM.
In the two-wheeler segment, the total sales increased 17.42 per cent y-o-y to 14,71,550 units (12,53,187). The motorcycle segment grew 20.63 per cent y-o-y to 9,89,120 units (8,19,940) and scooter sales grew 12.18 per cent y-o-y to 4,46,593 units last month compared with 3,98,099 units in May 2022.
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In the three-wheeler segment, domestic sales grew 70.42 per cent y-o-y to 48,732 units (28,595). Overall, the domestic sales of vehicles across categories grew 18 per cent y-o-y to 18,08,686 units during the month compared with 15,32,861 units in May last year.
“All the segments — passenger vehicles, two-wheelers and three-wheelers — have posted growth in double digits in May 2023. We anticipate this trend to continue, supported by the prevalent economic environment,” Vinod Aggarwal, President, SIAM, said.
The Indian automobile industry is currently in a transition phase with new powertrain technologies offered to consumers ranging from electrified to bio-fuels and gaseous fuel-driven vehicles, which are being enabled through sound policies of the government, he added.
Rajesh Menon, Director General, SIAM said this is the highest ever sales figure for PVs in May. “Two-wheelers also posted a growth... but are still lower than 2016-17 levels. Domestic sales of three-wheelers grew, although on a low base, but is still lower than the 2018-19 levels,” he said.