Domestic Passenger Vehicle Sales Growth Barely 2%: SIAM

New Delhi, Oct 17 (KNN) The domestic sales of passenger vehicles in September reached 361,717 units, reflecting a 1.9 percent growth compared to the same period last year, data released by Society of Indian Automobile Manufacturers (SIAM) said.

The monthly sales numbers of BMW, Mercedes, Jaguar Land Rover and Volvo Auto were not available, said the industry body on Monday.

Sales of two-wheelers increased 0.8 per cent to 17, 49,794 units. Within the segment, domestic sales of motorcycles improved 0.1 per cent on a year-on-year basis to 11, 15,764 vehicles last month. Three-wheeler sales jumped 47 per cent to 74,418 units, out of which, passenger carriers registered growth of 51.2 per cent to 59,501 units, the data showed.

Also within the three-wheeler segment, sales of e-rickshaws increased 54.9 per cent to 4,569 units while those of e-carts decreased 24.1 per cent to 255 units in September.

This sales data coincides with the onset of the festive season in the country, a period traditionally associated with increased auto bookings and customer visits as people plan their major purchases during this time of the year.

SIAM President Vinod Aggarwal said, “passenger vehicles, three-wheelers, and commercial vehicle segments continued to witness growth in the second quarter of 2023-24, although two-wheeler wholesale numbers posted a marginal de-growth, compared to the same period of last year.”

"As we get into the festival season, all segments of the industry are optimistic and look towards posting good numbers in Q3 as well," he added.

This growth in the automobile sectors can be attributed to the all-round economic growth of the country, which is also enabled through the conducive government policies, Aggarwal said. 

(KNN Bureau)