Domestic passenger vehicle sales rise by 11%

The growth in sales volumes can be attributed to the country’s significant increase in GDP growth this quarter

March 13, 2024

Compared to 3,34,790 units dispatched to dealers in February 2023, February 2024 saw this volume grow to 3,70,786

Two-wheeler sales grew 35% in February

Three-wheeler sales rose to 54,584 units last month

Sports utility vehicles continued to steer demand in the market

Indian automotive body Society of Indian Automobile Manufacturers (SIAM) announced that passenger vehicle sales in India rose by 10.8% YoY in February. Compared to 3,34,790 units dispatched to dealers in February 2023, February 2024 saw this volume grow to 3,70,786.

SIAM stated that the high demand for SUVs persisted. Meanwhile, two-wheeler sales grew 35 %, reaching 15,20,761 units in February 2024, compared to 11,29,661 units in the same month of the previous year. Three-wheeler sales also increased, amounting to 54,584 units as opposed to 50,382 units in February 2023.

Commercial vehicles, however, witnessed a slight decrease in sales volumes this month. As per SIAM President Vinod Aggarwal’s statement, the sizeable spurt in sales volumes for the Indian auto industry in February 2024 can be attributed to the country’s significant increase in GDP growth this quarter.

Source: Economic Times

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