Domestic Vehicle Sales Show Mixed Trends Ahead of Festive Season

Domestic passenger vehicle wholesales in India fell by around 2% year-on-year in August, while two-wheeler wholesales rose by 9%. Scooter and motorcycle dispatches also saw significant increases. The total three-wheeler sales grew by 8%. The automotive industry is optimistic about the upcoming festive season demand, bolstered by PM E-DRIVE and PM-eBus Sewa Schemes.

In August, domestic passenger vehicle wholesales in India declined by approximately 2% year-on-year, with companies reducing dispatches to manage dealer inventories amid decreased demand.

Data from the Society of Indian Automobile Manufacturers (SIAM) revealed that total passenger vehicle dispatches were 3,52,921 units, down from 3,59,228 units in August 2023, marking a 1.8% dip.

Conversely, two-wheeler wholesales increased by 9%, reaching 17,11,662 units compared to 15,66,594 units in the same period last year. Scooter and motorcycle dispatches surged by 10% and 8%, respectively, while three-wheeler sales grew by 8% to 69,962 units.

SIAM Director General Rajesh Menon expressed optimism for the upcoming festive season, highlighting that demand is expected to grow, strengthened by the Government of India's recent PM E-DRIVE and PM-eBus Sewa Schemes.

(With inputs from agencies.)