As per information obtainable with trade physique Society of Indian Vehicle Producers (SIAM), as many as 370,786 vehicles, sedans and utility automobiles have been bought final month, which is a rise of 10.8% over 334,790 models reported in the identical interval final 12 months.
This was the third highest month-to-month gross sales on file, behind 3,94,500 models the earlier month and three,91,811 models in October 2023. Automakers in India principally report wholesale dispatches from factories to dealerships and never retail gross sales to clients.
Whereas three-wheeler gross sales elevated 8.3% to 54,584 models in February, these of two-wheelers went up by 35% to 1,520,761 models on again of a resurgence in demand notably in rural markets.
Rajesh Menon, Director Common, SIAM, stated, “Passenger automobiles reported its highest ever gross sales of February posting gross sales of three.7 lakh models with a development of 10.8%, in comparison with February 2023. Three-wheelers additionally reported average development of 8.3% posting gross sales of about 0.55 lakh models in February 2024. Two-wheelers posted an considerable development of 34.6% in comparison with February 2023 posting gross sales of 15.2 lakh models.” Gross sales of economic automobiles, although, dipped final month attributable to cyclicity of demand.
Vinod Aggarwal, President, SIAM, stated, “General strong GDP development of the nation in Q3 of 2023-24 has helped the auto sector, the trade expects the expansion momentum to proceed.”
, as many as 370,786 cars, sedans and utility vehicles were sold last month, which is an increase of 10.8% over 334,790 units reported in the same period last year.){kind=link}