Passenger Vehicles Register Highest Ever Sales In February 2024: SIAM

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. 

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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.