The festival fervour boosted the sales of passenger vehicles (PVs) and two-wheelers, which posted highest ever dispatches to dealers in October 2024.
According to the Society of Indian Automobile Manufacturers (SIAM) data, two-wheeler segment posted the highest-ever sales in 2024 with 21.64 lakh units, with year-on-year (YoY) growth of 14.2%. Motorcycle sales accounted for 13.91 lakh units, while scooter sales stood at 7.21 lakh units,. registering 22.3% YoY growth.
Meanwhile, PVs posted highest-ever sales of 3.93 lakh units in October compared to 3.90 lakh in October-2023.
In India, utility vehicle (UV) sales posted YoY growth of over 14%, while their exports registered an increase of over 61%. The surge in demand for SUVs has brought respite to manufacturers, who are struggling with subdued demand of passenger cars.
As per the Vahan vehicle registration data, over 30% YoY growth in registration was witnessed for both PVs and two-wheelers. However, three-wheeler sales dropped by 0.7%.
Rajesh Menon, Director General, SIAM noted Dasehra and Diwali traditionally drive higher consumer demand.
