Domestic passenger vehicle sales increase by 10.8% in February: SIAM

Domestic passenger vehicle sales increased by 10.8 per cent in the month of February, as compared to the same period previous year.  Overall sales, including domestic and exports, also saw a growth from 1,772,012  in February 2023 to 2,303,322 February this year. 

According to data from Society of Indian Automobile Manufacturers (SIAM), passenger vehicles, two-wheelers, and three-wheelers posted growth in February 2024 as compared to the previous year, while commercial vehicles posted a degrowth.  

Passenger vehicles saw a growth of 10.8 per cent to 3,70,786 from 3,34,790 units in February last year. The total two-wheeler sales rose 35 per cent to 15,20,761 units in February, as against 11,29,661 units in the same month last year. Three-wheeler dispatches rose to 54,584 units last month, as against 50,382 units in February last year.  

SIAM President Vinod Aggarwal, President, said, “Overall robust GDP growth of the country in Q3 of 2023-24 has helped the auto sector. The Bharat Mobility Global Expo 2024 held in February 2024, graced by the Prime Minister, has also created a strong positive sentiment for the consumers and therefore the Industry expects the growth momentum to continue.”

Rajesh Menon, Director General, SIAM said, “Passenger Vehicles again reported its highest ever sales of February posting sales of 3.7 lakh units with a growth of 10.8 per cent, compared to February 2023. Three-wheelers also reported moderate growth of 8.3 per cent posting sales of about 0.55 lakh units in February 2024. Two-wheelers  posted an appreciable growth of 34.6 per cent compared to February 2023 posting sales of 15.2 lakh units.” 

SIAM stated that the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles in February 2024 was 22,94,411 units.