The latest sales data released by the Society of Indian Automobile Manufacturers (SIAM) on Friday revealed that two-wheeler sales in India saw a significant growth of 21.3 per cent year-on-year in June. In total, 16,14,154 units of two-wheelers were sold during the month, marking a notable increase from the 13,30,826 units sold in June 2023.
Scooter sales also experienced a remarkable surge of 42 per cent year-on-year in June, reaching 5.4 lakhs compared to 3.8 lakhs in the same month last year. Additionally, bike sales doubled with an 11 per cent increase to 10.3 lakhs in June, up from 9.1 lakh in June 2023.
Moreover, passenger vehicle sales grew by 3 per cent year-on-year in June, totaling 3,37,757 units compared to 3,27,788 units in June 2023. Three-wheeler sales also saw a twofold increase of 12.3 per cent, with a total of 59,544 units sold in June 2024 as opposed to 53,025 units in June 2023.
The sales data for June paints a positive picture for the Indian automobile industry, showcasing significant growth in two-wheeler sales, particularly scooters and motorcycles, as well as steady increases in passenger and three-wheeler sales. This indicates a resilient and expanding automobile market in India.
In May, passenger car sales declined by more than 11% based on data from the Society of Indian Automobile Manufacturers (SIAM). Domestic sales of passenger cars also fell by 11%, dropping from 1,20,364 units in May 2023 to 1,06,952 units in May 2024.
Furthermore, auto companies decreased the production of passenger cars by 13%, going from 1,63,619 units in May 2023 to 1,42,367 units in May 2024. The export of passenger cars also experienced a decrease of approximately 20%, declining from 35,806 units in May 2023 to 28,802 units in May 2024.
Nevertheless, the sales figures for June indicated positive growth trends in the automotive sector.
