auto industry Good news has come from. Due to the positive sentiment of the market, a good growth has been recorded in the demand for vehicles. According to the Society of Indian Automobile Manufacturers (SIAM), wholesale sales of vehicles will increase by 12 percent in the year 2024, in which strong demand for two-wheelers played an important role. According to the report, total wholesale sales of all vehicle segments last year stood at 2,54,98,763 units, which is 11.6 percent higher than 2,28,39,130 units in 2023. Two-wheelers played a major role in increasing sales last year. Wholesale sales of two-wheelers increased by 14.5 percent last year compared to 2023.
Highest increase of 20% in scooter sales
According to the statement, wholesale sales of scooters and motorcycles increased by 14.5 percent to 1,95,43,093 units in the year 2024, whereas a year before that it was 1,70,75,432 units. Last year, scooter sales increased by 20 percent year-on-year to 66,75,231 units in 2024 while motorcycle sales increased by 12 percent to 1,23,52,712 units. Chandra said that 2024 recorded the highest ever sales of passenger vehicles and three-wheelers in a single calendar year. He said that compared to 2023, the sales of passenger vehicles in 2024 increased by four percent to about 43 lakh units. Similarly, three-wheelers registered a growth of seven percent with sales of 7.3 lakh units in 2024.
Decline in commercial vehicle sales
However, commercial vehicle sales declined by three per cent to 9.5 lakh units compared to 2023. The number of passenger vehicles shipped to dealers increased by 10 percent to 3,14,934 units in December last year, while the figure was 2,86,390 units in December 2023. However, two-wheeler sales declined by nine percent to 11,05,565 units in December 2023 from 12,12,238 units. Last month, sales of three-wheelers increased to 52,733 units from 50,947 units in December, 2023. SIAM Director General Rajesh Menon said passenger vehicles, commercial vehicles and three-wheelers recorded their highest-ever third quarter sales in the October-December quarter.
In the third quarter, sales of passenger vehicles increased by 4.5 percent year-on-year to 10.6 lakh units. Menon said that in the third quarter of the financial year 2024-25, sales of three-wheelers increased marginally to 1.89 lakh units, while sales of two-wheelers increased by three percent to 49 lakh units. He said that sales of commercial vehicles increased by one percent in the last quarter to 2.38 lakh units.
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