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.
Backed by robust economic growth and conducive government, the Indian automobile industry has posted a satisfactory performance with sales growing by 12.5 per cent during the just-concluded financial year.
Two-wheeler sales in India rose 26 per cent to 1.49 million units in January 2024 as against 1.18 million units sold in the same month of last year, according to data put out by the Society of Indian Automobile Manufacturers released on Wednesday.
Passenger vehicles sold 3,89,714 units, representing a 15.9 per cent increase over the previous year. This segment witnessed an outstanding 42.1 per cent growth, with sales reaching about 76,940 units.
Hours after saying he was of the view that an additional GST must be imposed on the sale of diesel cars, Union Transport and Highways Minister Nitin Gadkari clarified that no such proposal currently under active consideration by the central government.
Union Transport and Highways Minister Nitin Gadkari has proposed a 10 per cent hike in diesel cars, in a bid to discourage pollution-creating vehicles.
According to SIAM, Passenger Vehicle sales soared to an impressive 3,59,228 units in August 2023, marking a substantial increase from the 3,28,376 passenger vehicles sold in August 2022.
Overall two-wheeler sales registered a degrowth of 7.2 per cent year-on-year in July 2023, according to the Society of Indian Automobile Manufacturers (SIAM).
According to SIAM, wholesale passenger vehicle sales volume grew 17.2 per cent in January. As many as 2,98,093 units were sold in January 2023 as against 2,54,287 units sold in January 2022.
The four-day event that ended on Sunday saw the largest-ever footfall of 122,500 business delegates from 65 countries. The 800-plus exhibitors from 15 countries with six country pavilions -- France, Germany, Japan, Poland South Korea, and UK, witnessed packed stalls with visitors from Ind