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

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.