New Delhi: The total production of Passenger Vehicles, Three Wheelers, Two Wheelers, and Quadricycle in May 2024 was 19,76,674 units, Society of Indian Automobile Manufacturers (SIAM) said.
Domestic sales of passenger vehicles in May 2024 were at 3,00,795 units which observed a change of 4.2% Y-o-Y. Three-wheelers observed sales of 55,763 units indicating an increase of 14.7% Y-o-Y.
Two-wheelers stood at 16,20,084 units in May 2024 which indicates a growth of 10.1% Y-o-Y. and Quadricycles sales declined 8.6% to 32 units, SIAM stated in a media release.
BMW, Mercedes-Benz, JLR and Volvo Auto data are not available. Only Tata Motors domestic sales figures are included in this document, the release said.
Vinod Aggarwal, President, SIAM, said, “All the segments viz. Passenger Vehicles, Commercial Vehicles, Two-Wheelers and Three-Wheelers have posted growth in May 2024, compared to May 2023. Passenger Vehicles have only witnessed a moderate growth, primarily owing to a high base effect of the previous year. However, Two Wheelers and Three Wheelers posted growth in double digits. With expectations of above normal monsoon and continued emphasis on economic development by the new Government, as it pursues its goal of Viksit Bh Bharat by 2047, the Auto Industry is optimistic of steady growth in 2024-25 as well”.
Rajesh Menon, Director General, SIAM, said, “Sales of Passenger Vehicles of May 2024 has been the highest ever in May again, although returning a moderate growth of 3.9%, compared to May 2023. Two-Wheelers posted a growth of 10.1% in May 2024, compared to last year, but are still lower than 2017-18 levels of the month of May. Domestic sales of Three-Wheelers in May 2024 grew by 14.7% compared to May 2023, posting the highest ever sales of May, surpassing the previous peak of year 2018- 19”.
