Dips and Peaks in India's Vehicle Wholesale Market

Passenger vehicle wholesales in India dropped 2.5% year-on-year in July 2023 to 3,41,510 units. However, two-wheeler and three-wheeler wholesales saw increases of 12.5% and 5.1%, respectively, indicating diverse trends within the automobile market.

Passenger vehicle wholesales in India declined 2.5 per cent year-on-year to 3,41,510 units in July, automobile industry body SIAM reported on Wednesday.

The overall passenger vehicle (PV) dispatches from companies to dealers stood at 3,50,355 units in July 2023.

According to data released by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler wholesales increased by 12.5 per cent to 14,41,694 units last month, compared to 12,82,054 units in July 2023.

In addition, three-wheeler wholesales also experienced growth, rising 5.1 per cent to 59,073 units from 56,204 units in July of the previous year.

(With inputs from agencies.)