Total passenger vehicle sales in India declined 1.8 per cent in August to 352,921 units, as against 359,228 units same month last year, data released by the Society of Indian Automobile Manufacturers (SIAM) showed on Friday.
The domestic passenger vehicle industry volumes declined by low single digit in August 2024 as compared with August 2023, Kotak Institutional Equities says it is because of weak retail demand trends and higher inventory levels at the dealerships.
The passenger vehicle sales in the month of July stood at 3,41,510 units, highlighting the sales data released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday.
Retail automobile sales in India saw double-digit yearly growth in July, with almost all vehicle categories witnessing an increase. To be precise, the sales jumped 13.84 per cent during the month.
The global sales of the luxury segment of Tata Motors, Jaguar Land Rover, reported a positive growth in sales on Monday for the first quarter (April-June) of 2024
The passenger vehicle sales of Mahindra and Mahindra in June 2024 saw a significant surge with an increase of 23 per cent compared to the same month last year.
While the sales of two-wheelers have seen a significant rise in the month of May 2024, sales of passenger cars have dropped by over 11 per cent, according to the data released by the Society of Indian Automobile Manufacturers (SIAM)
Amid a significant surge being witnessed in India's passenger vehicle sales, four major automobile companies have released their car sales numbers for the three months of April-June 2024.
ontinuing with the trends from the last quarter of 2023-24, a significant 30.8 per cent growth in two-wheeler sales were reported in April on a yearly basis. In the first month of the current financial year 2024-25, sales of two-wheelers were reported at 17.5 lakh units.
The CEA said that demand conditions are favourable, reflected in healthy passenger vehicle sales, domestic air passenger traffic, and a buoyant construction sector
The passenger vehicle category spearheaded the growth, witnessing a substantial increase in sales during November 2023. With 3.34 lakh units sold, it surpassed the previous year's figures, contributing significantly to the overall positive trend in the automotive market.