Domestic PV Sales Up By 1.3% In April: SIAM Above normal monsoon rainfall, policy continuity post-elections and government's push on manufacturing and infrastructure would propel the overall economic growth which would help in continuing the Auto sector's growth trajectory, said SIAM in its report
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The domestic passenger vehicle sales stood at 3,35,629 units in April 2024, 1.31 per cent up from 3,31,278 units in April 2023. Three-wheeler sales were 49,116 units in April 2024, a 14.5 per cent increase, when compared with April 2023; similarly, two-wheeler sales were 17,51,393 units in April 2024, a 30.8 per cent jump from April 2023.
Vinod Aggarwal, president, SIAM said, "Year 2024-25 has started on a reasonably good note for the auto industry, as all the segments have posted growth in April 2024,compared with April 2023, driven by positive consumer sentiments and festivities in this month. Above normal monsoon rainfall, policy continuity post-elections and government's push on manufacturing and infrastructure would propel the overall economic growth which would help in continuing the auto sector's growth trajectory."
Key highlights from the April report published by Society Of Indian Automobile Manufacturers:
The total production of passenger vehicles, three-wheelers, two-wheelers, and Quadricycle in April 2024 was 23,58,041 units. Commenting on April 2024 performance, Rajesh Menon, Director General, SIAM said, "Passenger vehicles continues the highest ever monthly sales trend with 3.36 lakh units, though with a marginal growth of 1.3 per cent, in the month of April 2024, as compared to April 2023. Continuing with the trends of Q4 of 2023-24, two-wheelers reported significant growth of 30.8 per cent in April 2024, compared to April 2023, posting sales of about 17.5 lakh units while the three-wheeler segment also reported sales of about 0.49 Lakh units, with a growth of 14.5 per cent in April 2024, compared to April 2023."
