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Passenger Vehicle sales rise 1.6%; two-wheeler sales up 9.3% in Aug: SIAM report

| @indiablooms | Sep 14, 2024, at 03:43 am

New Delhi: The automobile sector showed mixed growth pattern across various segments of the automotive sector in India, according to the August 2024 report releasedby Society of Indian Automobile Manufacturers (SIAM).

Passenger Vehicles

The passenger vehicle segment, which includes cars, utility vehicles, and vans, saw a marginal overall growth of 0.7% in production, totalling 3,76,726 units compared to 3,74,018 units in August 2023.

However, domestic sales in this segment slightly declined by 1.6% to 3,08,779 units. Exports of passenger vehicles showed a moderate increase of 3.3%, reaching 66,008 units.

Notably, utility vehicles registered an 11.1% increase in production and a 10.3% rise in domestic sales, while passenger cars experienced a decline in both production (-13.0%) and domestic sales (-19.0%).

Three-Wheelers

The three-wheeler segment showed a positive trend with an overall production growth of 9.0%, reaching 1,03,526 units.

Domestic sales increased by 7.7% to 69,962 units, while exports saw an 11.2% rise, totalling 28,873 units.

The goods carrier sub-segment demonstrated the most significant growth, with a 19.0% increase in production and a 280.4% surge in exports.

Two-Wheelers

The two-wheeler segment reported a growth of 4.9% in production, with 20,10,556 units manufactured.

Domestic sales grew by 9.3%, totalling 17,11,662 units, and exports rose by 16.4% to 3,38,608 units.

Scooters, motorcycles, and mopeds all saw increases in both domestic sales and exports, with motorcycles experiencing a 5.2% rise in production and an 8.2% increase in domestic sales.

Quadricycles

The quadricycle segment experienced the highest percentage growth, with a 49.7% increase in production, although domestic sales dropped by 94.5%. However, exports for quadricycles grew by 67.9%.

Overall Automotive Industry

The total production of vehicles across all segments rose by 4.4% in August 2024, reaching 24,91,263 units. Domestic sales saw a 7.5% increase, amounting to 20,90,409 units, while exports grew by 13.9%, reaching 4,33,771 units.


Vehicle production, domestic sales, and exports for the period of April to August 2024:

Passenger Vehicles

The total production of passenger vehicles, which includes cars, utility vehicles, and vans, increased by 3.9%, reaching 19,78,104 units compared to 19,04,305 units during the same period last year. Domestic sales saw a modest growth of 1.2%, totalling 16,31,570 units. Exports of passenger vehicles grew by 11.9% to 3,08,420 units. The utility vehicle subsegment performed particularly well, with a 16.7% increase in production and a 13.7% rise in domestic sales. In contrast, passenger cars saw a decline in both production (-12.5%) and domestic sales (-16.9%).

Three-Wheelers

The three-wheeler segment experienced an overall production increase of 8.6%, reaching 4,27,762 units. Domestic sales rose by 10.7% to 2,94,116 units, while exports showed a slight increase of 0.9%, amounting to 1,27,228 units. The goods carrier subsegment recorded significant growth, with production rising by 14.8% and exports by 94.9%. However, the E-rickshaw subsegment saw a decline in both production (-28.2%) and domestic sales (-35.7%).

Two-Wheelers

Two-wheelers showed strong growth, with production increasing by 16.6% to 98,17,965 units.

Domestic sales rose by 16.4%, reaching 81,38,987 units, while exports also saw a healthy increase of 14.7%, totalling 15,86,664 units.

The scooter subsegment recorded a notable 24.1% growth in both production and domestic sales.

Motorcycles and mopeds also posted positive growth, with motorcycle production up by 13.4% and domestic sales by 12.7%.

Quadricycles

The quadricycle segment experienced significant growth in production, increasing by 78.4% to 3,154 units. However, domestic sales fell by 72.0%, while exports surged by 106.5%.

Overall Automotive Industry

The total vehicle production across all segments increased by 14.0% during April-August 2024, reaching 1,22,26,985 units. Domestic sales grew by 13.5% to 1,00,64,777 units, and exports rose by 13.3% to 20,25,228 units.

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