Passenger vehicle sales up by 2 per cent in June, three-wheelers almost double: SIAM

PUNE: Passenger vehicle (PV) wholesales in India rose 2 per cent year-on-year in June to 3,27,487 units on the back of robust demand for SUVS, the Society of Indian Automobile Manufacturers or Siam said on Wednesday.

Passenger vehicle dispatches to dealers in June 2022 stood at 3,20,985 units.

Total two-wheeler sales increased by 2 per cent to 13,30,826 units last month, as against 13,08,764 units in the year-ago period.

Total three-wheeler sales also jumped nearly two-fold to 53,019 units in June, as compared to 26,701 units in June 2022.

The total sales of passenger vehicles, three-wheelers, two-wheelers, and quadricycles for June stood at 20,24,703 units.

While domestic PV sales for the April-June quarter were reported at 9,95,974 units, commercial vehicle sales stood at 2,17,046 units for the same period. The three-wheelers were at 1,44,475 units and the two-wheeler sales were at 41,40,964 units during the same quarter.

“In the quarter, the auto industry seamlessly transitioned to the very stringent BS 6 phase 2 emission norms from 1st April 2023, reflecting the commitment of the industry towards the environment. Overall passenger vehicles, two-wheelers, three-wheelers and commercial vehicles have performed well in Q1 of 2023-24, although some sub-segments have shown a slight momentary decline, compared to Q1 of last year,” said Siam President Vinod Aggarwal.

Rajesh Menon, Siam Director General, said sales of passenger vehicles in Q1 of Apr-June 2023 has been the highest ever with a growth of 9.4%, compared to the previous year.

“The passenger vehicle segment crossed 2 million units in the first half of the calendar year for the first time. Two-Wheelers also posted a growth of 11.2% in this quarter, compared to last year, but are still lower than 2016-17 levels. Domestic sales of three-wheelers in Q1 of 2023-24 grew by 89.4% compared to last year albeit on a low base, but are still lower than the 2018-19 levels. Commercial vehicles have degrown by (-)3.3% in this Quarter, compared to Q1 of last financial year,” Menon pointed out.