The Society of Indian Automobile Manufacturers (SIAM) has released the performance data for August 2024, highlighting both growth and slight declines across various segments in the automotive industry.
Production Overview
In August 2024, the total production across Passenger Vehicles, Three-Wheelers, Two-Wheelers, and Quadricycles reached 24,91,263 units.
Domestic Sales
- Passenger Vehicles: Sales totaled 3,52,921 units, marking a 1.8% decline from August 2023. Without Tata Motors’ data, total Passenger Vehicle sales would stand at 3,08,779 units.
- Three-Wheelers: The segment saw a 7.7% growth, with sales of 69,962 units compared to August 2023.
- Two-Wheelers: With 17,11,662 units sold, this segment recorded a 9.3% increase year-on-year.
Commenting on the market performance, Rajesh Menon, Director General of SIAM, noted the promising growth in Three-Wheelers and Two-Wheelers and projected stronger demand during the upcoming festive season. He also emphasized that government initiatives like PM E-DRIVE and PM-eBus Sewa schemes are expected to further boost vehicle demand in the near future.
