Passenger vehicle, two-wheeler sales hit new high in October: Siam

While passenger vehicle sales stood at 3,93,238 units, up 0.9 per cent from 3,89,714 units, the best ever in the month, SIAM said.

Also, two-wheeler sales which grew a stronger 14.2 per cent from 18,95,799 units to 21,64,276 units, were also the best ever for the month, it noted.

“October 2024 saw two major festivals Dussehra and Diwali, both occurring in the same month, which traditionally drive higher consumer demand providing a significant boost to Auto industry’s performance. Passenger Vehicles posted its highest ever sales of October in 2024 of 3.93 Lakh units, with a growth of 0.9 per cent, albeit on a high base of last October. The two-wheeler segment also posted the highest ever sales of October in 2024 with 21.64 Lakh units, with a good growth of 14.2 per cent, compared to October 2023,” Rajesh Menon, Director General at SIAM pointed out.

This high growth, he said, was also reflected in the Vahan vehicle registration data, wherein more than 30 per cent growth in registration was witnessed for both passenger vehicles and two-wheelers in October 2024, compared to October 2023.

Similarly, scooter dispatches to dealers also soared 22 per cent YoY at 7,21,200 units last month.

Motorcycle sales grew by 11 per cent, reaching 1,390,696 units, up from 1,252,835 units in October 2023.

On the other hand, moped sales saw a slight decline, falling to 52,380 units in October 2024, compared to 53,162 units in the same month the previous year.

The three-wheelers dispatches to dealers marginally dipped to 76,770 units in October, down from 77,344 units in October 2023.

Despite the overall growth in the two-wheeler segment, the three-wheeler market showed a slight contraction in sales.