Aided by festive demand, house passenger vehicle wholesales rose marginally year-on-year to a few,93,238 objects in October, commerce physique SIAM talked about on Wednesday. The complete passenger vehicle dispatches by companies to sellers stood at 3,89,714 objects in October last 12 months. Total two-wheeler product sales rose 14 per cent year-on-year to 21,64,276 objects last month, as as compared with 18,95,799 objects in October 2023, the Society of Indian Automobile Manufacturers (SIAM) talked about in an announcement.
Scooter product sales witnessed a 22 per cent on-year rise to 7,21,200 objects in October. Motorcycle dispatches observed an increase of 11 per cent to 13,90,696 objects inside the earlier month, as in opposition to 12,52,835 objects in October, 2023. Moped product sales declined to 52,380 objects in October this 12 months, as in opposition to 53,162 objects within the an identical month a 12 months prior to now.
Three-wheeler dispatches to sellers from companies observed a marginal dip last month at 76,770 objects, as as compared with 77,344 objects in October last 12 months. “October 2024 saw two major festivals Dussehra and Diwali, both occurring in the same month, which traditionally drive higher consumer demand, providing a significant boost to the auto industry’s performance,” SIAM Director General Rajesh Menon mentioned.
Passenger vehicles posted their highest-ever product sales of October in 2024 at 3.93 lakh objects, with a progress of 0.9 per cent, albeit on a extreme base of ultimate October, he added. The two-wheeler section moreover posted the highest-ever product sales of October in 2024, Menon talked about.
“This high growth was also reflected in the Vahan vehicle registration data, wherein more than 30 per cent growth in registration was witnessed for both passenger vehicles and two-wheelers in October 2024, compared to October 2023,” he mentioned.
