November Auto Sales Surge: Passenger Vehicles Set Record High

November 2024 saw a 4.1% rise in domestic passenger vehicle sales, reaching 347,522 units, a record high. However, two-wheelers and three-wheelers experienced slight declines. SIAM highlights the impact of Diwali on sales trends despite absence in November. Total production across vehicle categories stands at 2,407,351 units.

In a positive turn for the automobile sector, domestic sales of passenger vehicles witnessed a 4.1% year-on-year increase in November, reaching a record-breaking 347,522 units, according to the Society of Indian Automobile Manufacturers (SIAM). This surge contrasts with November 2023, when sales were recorded at 333,833 units.

Meanwhile, the three-wheeler market experienced a decline, with sales dropping by 1.3% to 59,350 units. The two-wheeler category showed mixed trends: while scooter sales increased by 11.7% to 568,580 units, motorcycle sales declined by 7.5%, standing at 990,246 units. Overall, two-wheeler sales saw a marginal 1.1% increase, totaling 1,604,749 units.

Rajesh Menon, Director General of SIAM, noted that although Diwali, a significant sales period, did not occur in November, the demand momentum from October's festival period persisted. Passenger vehicles marked their best-ever sales for November, while two-wheelers surpassed the 1.6 million mark for a non-Diwali November. Nonetheless, both two-wheelers and three-wheelers faced slight de-growth of 1.1% and 1.3% respectively, compared to last year. Total production across all vehicle categories reached 2,407,351 units.

(With inputs from agencies.)