PV wholesales sees consolidation, Two-Wheelers Drive Momentum in August

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The automotive wholesales in India has seen a mixed bag of results for August 2024. The passenger vehicle segment has seen consolidation, which can be attributed towards better inventory management on the back of high inventory situation, while two-wheeler sales have grown significantly showcasing an improvement in consumer sentiments.

For August 2024, passenger vehicle wholesales came at 3,52,921 units, which was 2 percent lower YoY, but 3 percent higher compared to the previous month. In terms of segment-wise performance, passenger car sales came at 97,198 units, down 19 percent YoY; SUVs at 2,00,596 units, up 20 percent YoY, while Vans came at 10,985 units, down 7 percent YoY.

In the three-wheeler segment a total of 69,962 units were sold, up 8 percent YoY, barring passenger carriers which was up 12 percent at 58,698 units, as against 52,497 units for the same period last year, all other segments were in the red. 

The two-wheeler segment continued to see positive momentum with 6,06,250 scooters sold, up 10 percent YoY; 10,60,866 motorcycles, up 8 percent YoY and mopeds at 44,546 units, up 22 percent YoY respectively.

At 6 units sold, quadricycle sales were down 95 percent YoY. 

Rajesh Menon, Director General, SIAM said, “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 of India.”

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