Sale of domestic passenger vehicles (PV) had the highest-ever growth in the first half of FY24 at 20,70,163 units, a jump of around seven per cent year-on-year, compared to 19,36,804 units in the April-September period last year.

The lowest-ever sales were recorded in FY21 (due to Covid lockdown) at 8,79,966 units, after which it grew to 13,87,714 units in FY22 and to 19,36,804 units last year in the domestic market.

Total two-wheeler sales also grew by four per cent y-o-y at 87,39,406 units during this period, against 83,98,464 units in April-September period last year, the latest data shared by Society of Indian Automobile Manufacturers (SIAM) showed on Monday.

Similarly, total commercial vehicle (CV) sales grew by around two per cent y-o-y at 4,65,063 units in the first half of this year, compared to 4,56,479 in H1 FY23. Total three-wheeler sales grew the most (73 per cent y-o-y) to 3,39,690 units during the H1 this year, against 1,96,612 units in the corresponding period last year.

The total of sales across all categories grew 5.69 per cent y-o-y at 1,16,14,781 units in H1 FY24, compared to 1,09,88,649 units in H1 last year. However, in terms of exports, the overall automobile shipments declined by 17 per cent y-o-y at 22,11,457 units in the April-September period of the current fiscal, compared to 26,80,527 units in the same period last year.

When it comes to monthly domestic sales, PV sales grew 1.72 per cent at 3,61,171 units in September, compared to 3,55,043 units in the corresponding month last year, SIAM data showed.

Total two-wheeler sales grew by around a per cent y-o-y to 17,49,794 units during the month, compared to 17,35,199 units in September 2022. Total three-wheeler wholesales rose by 47 per cent y-o-y to 74,418 units last month from 50,626 units in September 2022.

dispatches

Total dispatches last month were up by two per cent at 21,85,929 units, from 21,40,868 units in September 2022.

“Sales growth in the PV segment is being fuelled by strong demand for utility and sports utility vehicles. The vertical now accounts for around 60 per cent of the overall sales...as we get into the festival season, all segments of the industry are optimistic and look towards posting good numbers in the third quarter as well,” said Vinod Aggarwal, President, SIAM.

This growth in the automobile sectors can be attributed to the all-round economic growth of the country, which is also enabled through the conducive government policies, he added.