SIAM Auto Sales Report: Passenger vehicle wholesales surge by 14% to 393,074 units in January

SIAM Auto Sales Report: Domestic passenger vehicle wholesales soared by 14% year-on-year to 393,074 units in January, marking a historic high for the month, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday.

Two-Wheeler Segment

Simultaneously, the two-wheeler segment experienced a substantial upswing, with wholesales surging by 26% to reach 1,495,183 units compared to 1,184,376 units in January of the previous year.

Three-wheeler Segment 

Three-wheeler wholesales witnessed a growth of 9 per cent at 53,537 units as against 48,903 units in January 2023.

"Passenger vehicle sales have remained resilient led by positive consumer sentiments, while the two-wheeler segment witnessed good growth in January as well as the rural market continues to recover," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said.

While the commercial vehicle sector did not register growth in January 2024, Aggarwal expressed optimism, stating expectations of a rebound in the coming months of the fiscal year.

"Passenger vehicles and three-wheelers continue to post their highest-ever sales till date, in FY 24, for the period April to January," SIAM Director General Rajesh Menon said.

Decemeber 2023 Sale

The total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles in December 2023 stood at 1,896,696 units.

• Passenger vehicle sales in December 2023 totaled 286,390 units.
• Three-wheeler sales in December 2023 amounted to 50,537 units.
• Two-wheeler sales in December 2023 reached 1,211,966 units.

(With input from agencies)