Best May for most PV makers, domestic sales up nearly 3.9%: Industry body

Domestic PVs Sales, May 2024: Domestic passenger vehicle sales rose 3.87 per cent on a year-on-year basis to 3,47,492 units in May - the highest in the month, according to the Society of Indian Automobile Manufacturers (SIAM), an industry body. 

The data excluded data from BMW, Mercedes, JLR, and Volvo Auto, SIAM said.

Domestic two-wheeler sales increased 10.09 per cent to 16,20,084 units, including a 5.0 per cent rise in motorcycle sales to 10,38,824 units.

Moreover, domestic three-wheeler sales rose by 14.71 per cent to 55,763 units.

"The growth of the automobile sector is above expectations," said Vinod Aggarwal, President of SIAM. "With expectations of an above-normal monsoon and continued emphasis on economic development by the new government, as it pursues its goal of 'Viksit Bharat' by 2047, the auto industry is optimistic about steady growth in 2024-25 as well," he added.