Auto Sales January 2024: Over 18.88 Lakh Vehicles Sold In India

The Indian automobile industry produced over 23.28 lakh vehicles in India in January 2024, according to the latest report by the Society of Indian Manufacturers (SIAM). In India, the auto industry sold 18.88 lakh vehicles, while it exported 3.30 lakh units. This figure comprises sales of 3.93 lakh passenger vehicles, 14.95 lakh two-wheelers and 53,537 three-wheelers. 

In January, the industry produced 2.33 lakh SUVs and sold 2.01 lakh SUVs in India. Exports of SUVs only accounted for 18,853 units. The auto industry produced 1.71 lakh and 13,138 units of cars and vans, respectively, which combined is less than the number of SUVs produced. Domestic sales of cars amounted to 1.27 lakh units, while the industry exported 29,812 units. The industry sold 12,019 vans domestically, while it exported only 580 units.

In the financial year 2024 (April 2023 - January 2024), the industry produced 39.78 lakh units. This consists of 22.21 lakh SUVs, 16.37 lakh cars and 1.20 lakh vans. During the same eight-month period, the auto industry sold 20.20 lakh SUVs, 12.81 lakh cars and sedans and 1.21 lakh vans. Furthermore, it exported 1.89 lakh SUVs, 3.60 lakh cars and sedans and only 6,500 vans. Notably, these figures do not include data from BMW, Mercedes-Benz, JLR, Volvo and Tata Motors. 

The two-wheeler segment saw total production of more than 18.32 lakh units. In January, the auto industry registered total sales of 14.95 lakh units in the two-wheeler segment in India, while it exported 2.60 lakh units. The industry produced 12.47 lakh motorcycles, 5.44 lakh scooters and 41,620 mopeds last month. Domestic sales of motorcycles, scooters and mopeds amount to 9.66 lakh, 4.88 lakh, 42,036 units, respectively. Furthermore, the industry exported 2.24 lakh motorcycles and 36,322 scooters but no mopeds. 

Between April 2023 and January 2024, the auto industry produced a whopping 1.78 crore two-wheelers which includes 1.21 crore motorcycles, 52.75 lakh scooters 4.02 lakh mopeds. In India, the industry’s two-wheeler sales amounted to 1.50 crore in the eight-month period, with 97.09 lakh motorcycles, 48.57 lakh scooters and 4 lakh mopeds sold. Exports during the current financial year amount to 28.03 lakh units of which 23.80 lakh units are motorcycles, 4.21 lakh units are scooters and mopeds are only 1,656 units. 

Vinod Aggarwal, President, SIAM, said, “Passenger vehicle sales have remained resilient led by positive consumer sentiments, while the two-wheeler segment witnessed good growth in January as well, as the rural market continues to recover.” He added, “Though the commercial vehicle sector did not grow in January, it is likely to see good offtake in the next 2 months of this financial year.”