New Delhi: Auto OEMs in the July-September quarter of the on-going financial year 2022-2023 saw year-on-year improvement in domestic sales across the segments.
According to the latest data by the industry body, Society of Indian Automobile Manufacturers (SIAM), the second quarter of FY24 witnessed an 1.04% growth in total domestic sales to 61,16,091 units compared to 60,52,739 units in the same period in FY23.
Passenger vehicle sales were the highest ever, clocking 10,74,189 units in Q2 FY24 as against 1,026,309 units in the corresponding quarter of the previous fiscal year.
Within the segment, utility vehicles comprised over 50% share at 6,39,552 units during the quarter. This was followed by 396499 passenger cars and 38,138 units of vans.
The industry reported domestic sales of two wheelers at 45,98,442 units during the July-September 2022 quarter, a decline of 1.6 % compared to 4,673,931 in the corresponding quarter of the previous year.
Sales of commercial vehicles were also up at 2,47,929 units during Q2 of the current fiscal year, as compared to 231,880 units in Q2 of the last fiscal year.
Vinod Aggarwal, President, SIAM, said, “Passenger Vehicles, Three-Wheelers, and Commercial Vehicle segments continued to grow in Q2 of 2023-24. Two-Wheeler wholesale numbers posted a marginal de-growth, compared to Q2 of last year. The retails have been encouraging.”
“As we get into the festival season, all segments of the Industry are optimistic and look towards posting good numbers in Q3 as well. This growth in the automobile sectors can be attributed to the all-round economic growth of the country, which is also enabled through the conducive Government policies.” he added
Rajesh Menon, Director General, SIAM, said, “Sales of both Passenger Vehicles and Three Wheelers in Q2 of FY2023-24 has been the highest ever in Q2. Passenger Vehicles have posted a growth of 4.7% and Three Wheelers have posted a growth of 62.2%, compared to Q2 of last year. The Passenger Vehicle segment crossed 2 million units sales for the first time, in the first half of the current financial year.”
“Commercial Vehicles also posted a decent growth of 6.9% in this quarter, compared to Q2 of last financial year, driven by good growth in Medium and Heavy Commercial Vehicles. Two-wheeler segment declined by (-)1.6% in this quarter, as compared to last year.”
