PV Sales Grow By 1.3%, Motorcycles By 30.8% In April 2024: SIAM

The Society of Indian Automobile Manufacturers (SIAM) revealed that in April 2024, the Indian automotive industry manufactured 3,35,629 units of passenger vehicles, 17,51,393 units of two-wheelers, and 49,116 units of three-wheelers in April 2024. This is a simultaneous growth of 1.3 per cent, 30.8 per cent, and 14.5 per cent, respectively corresponding to April 2023 sales. 

The passenger vehicle industry continues its growth streak with passenger utility vehicles contributing the most domestic sales at 1,79,329 units, a 21.2 per cent growth against 1,48,005 units sold in April 2023. This is followed by passenger vans which registered 14.8 per cent growth last month. Interestingly, sales of passenger cars which include the likes of sedans and hatchbacks declined last month by -23.4 per cent with only 96,357 units retailed, as against 1,25,758 units retailed in April 2023. 

(Also Read: Auto Sales Grow By 27%, PV By 16% In April 2024: FADA)

Last month also saw the two-wheeler industry grow exponentially both in domestic and export markets by 30.8 per cent and 24.3 per cent, respectively. This was thoroughly complimented by increased production of 22.5 per cent and in April 2024, a total of 19,32, 986 units of scooters, motorcycles and mopeds were produced, as against 15,78,402 units in April 2023. 

(Also Read: Auto Sales April 2024: Top 5 Bike Manufacturers in April 2024)

Speaking on this occasion, Vinod Aggarwal, President, SIAM pointed out how the first month of the financial year sales witnessed positive consumer sentiments driven by festivities. “Above normal monsoon rainfall, policy continuity post-elections and Government’s push on manufacturing and infrastructure would propel the overall economic growth which would help in continuing the Auto sector’s growth trajectory,” he further added.