Car sales decline, two and three wheelers surge in August

PUNE: Passenger vehicle (PV) wholesale to dealers dropped by 1.8 per cent year-on-year to 3,52,921 units in August from 3,59,228 units in the corresponding month last year, the Society of Indian Automobile Manufacturers or SIAM said on Friday.

However, sales of two-wheeler and three-wheeler segments surged by 9.3 per cent to 17,11,662 units during the month from 15,66,594 units in August last year. Scooter dispatches grew by 10 per cent to 6,06,250 units in August as against 5,49,290 units in August 2023.

Similarly, motorcycle wholesale grew by 8.2 per cent to 10,60,866 units last month from 9,80,809 units in August 2023.

Three-wheeler sales also grew by around 8 per cent to 69,962 units in August as against 64,944 units in the corresponding period last year.

“In August 2024, passenger vehicle segment saw a degrowth of 1.8 per cent compared to August 2023, posting a sales of 3.53 lakh units. Looking ahead, as the country enters the festive season, demand for vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of government,” said Rajesh Menon, Director General at SIAM.

Grand total of all categories grew by 7.2 per cent on year to 21,34,545 units in August as against 19,90,766 units in August 2023.