
Passenger vehicle sales grew by 10.8 per cent in February 2024, compared to February 2023.
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Passenger vehicle sales grew by 10.8 per cent in February 2024, compared to February 2023.
The Society of Indian Automobile Manufacturers (SIAM) has announced the sales performance of the auto industry for February 2024 (Month-on-Month) and April-February 2024 (Year-to-Date). In February 2024, 22,94,411 units were sold in the country, which includes passenger vehicles (four-wheelers), two-wheelers, three-wheelers, and quadricycles. Among these, passenger vehicle sales were at their highest ever last month at 3,86,741 lakh units, which is a 10.8 per cent M-o-M growth compared to 3,37,978 units sold in February 2023.
“Passenger vehicles, two-wheelers, and three-wheelers have posted growth in February 2024 compared to the previous year, while commercial vehicles have witnessed a slight de-growth,” commented Rajesh Menon, Director General, SIAM.
Two-wheelers were in great demand too last year, with sales increasing to 18,29,534 units last month, compared to 13,48,669 units sold in February 2023. Out of which, 15,20,761 bikes/scooters/mopeds, etc were sold in the domestic market, and the rest 3,28,082 units were exported. Whereas, a total of 331 units and 77,805 units of of quadricycles and three-wheelers, respectively, were sold last month.
(Also Read: 2024 Hyundai Creta Receives 80,000 Bookings Since Launch)
As for the April-February 2024 period, a total of 43,64,437 passenger vehicles were produced, compared to 40,81,696 units in April-February, 2023. Sales in the domestic market also increased with 37,42,205 units sold during this period, compared to 34,61,780 units before. Two-wheeler sales also increased by 9 per cent in this period with 1,96,05,831 units sold, compared to 1,78,92,833 units sold in the same period last year.
All in all (passenger vehicles, two-wheelers, three-wheelers, and quadricycles), the automobile industry registered a total of 2,48,85,339 units of vehicle sales from April 2023 to February 2024. This is a growth of 9.35 per cent from last year's same period when the industry produced a total of 2,27,55,713 units between April-February 2023.
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