Monthly Performance: March 2024
In March 2024, the Indian automobile industry produced a total of 2,325,959 units, including Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycles, SIAM reported.
Domestic sales for March 2024 were as follows:
- Passenger Vehicles: 368,086 units
- Three Wheelers: 56,723 units
- Two Wheelers: 1,487,579 units
Quarterly Performance: January – March 2024
During the first quarter of 2024, the industry produced a total of 7,394,417 units, covering Passenger Vehicles, Commercial Vehicles, Three-wheelers, Two-wheelers, and Quadricycles.
Domestic sales for January – March 2024 were as follows:
- Passenger Vehicles: 1,135,501 units
- Commercial Vehicles: 268,294 units
- Three Wheelers: 164,844 units
- Two Wheelers: 4,503,523 units
Financial Year Performance: April 2023 – March 2024
For the financial year spanning April 2023 to March 2024, the industry recorded a total production of 284,347,742 units.
Domestic sales for the same period were as follows:
- Passenger Vehicles: 4,218,746 units
- Commercial Vehicles: 967,878 units
- Three Wheelers: 691,749 units
- Two Wheelers: 179,743,365 units
Commenting on the sales data, Mr. Vinod Aggarwal, President of SIAM, expressed satisfaction with the industry’s performance, citing a robust economic growth of 7.6% and a domestic industry growth of 12.5% in the last financial year. He highlighted the Passenger Vehicle segment’s leadership in growth, with overall sales nearing 5 million units, including a notable growth in domestic sales and exports. Mr. Aggarwal also noted the industry’s commitment to sustainability, with the production of vehicles compliant with 20% Ethanol and significant growth in Electric Passenger Vehicles and Two-Wheelers.
In regards to the Q4 performance, Mr. Rajesh Menon, Director General of SIAM, reported a significant growth in Two-Wheelers and Passenger Vehicles, with sales surpassing 4.5 million and 1.1 million units respectively. Three-wheelers also showed growth, while Commercial Vehicles experienced a slight decline in sales.
