Indian Passenger Vehicle Wholesales See Slight Decline in July

Passenger vehicle wholesales in India dropped by 2.3% year-on-year to 3,41,510 units in July, according to SIAM. In contrast, two-wheeler and three-wheeler wholesales increased, registering a growth of 12.5% and 5.1% respectively.

Passenger vehicle wholesales in India witnessed a 2.3 per cent decline year-on-year, totaling 3,41,510 units in July, the automobile industry body SIAM reported Wednesday.

The overall passenger vehicle dispatches from manufacturers to dealers were 3,50,355 units in July 2023.

Data from the Society of Indian Automobile Manufacturers (SIAM) indicated that two-wheeler wholesales saw a substantial increase of 12.5 per cent, reaching 14,41,694 units last month, compared to 12,82,054 units in July 2023.

Additionally, three-wheeler wholesales experienced a rise of 5.1 per cent, amounting to 59,073 units from 56,204 units in July of the previous year.

(With inputs from agencies.)