In April 2024 the Indian automotive industry witnessed an increase, in sales with a total of 2,136,157 vehicles sold. This reflects a growth of 25% compared to the corresponding month in the prior year. The Society of Indian Automobile Manufacturers (SIAM) released this information highlighting that all sectors of the automobile industry contributed to this expansion, driven by consumer sentiments and the festive ambiance during that period.
Regarding passenger vehicles sales amounted to 335,629 units in April 2024. While the growth rate was modest at 1.3% compared to April 2023 this sector continued to be a contributor to the sales numbers. However, it was the motorcycle segment that predominantly fueled the growth observed in the industry. Motorcycle sales surged by 31% with 1,751,393 units sold in April 2024—an appreciable rise, from the 1,338,588 units sold during the same timeframe last year.
Additionally bolstering the expansion trend was the three-wheeler segment which also displayed outcomes as sales reached 49,116 units—a respectable growth rate of 14.5% compared to April 2023.
On the other hand, there was a drop, in quadricycle sales decreasing by 69% to just 19 units sold which is a stark difference from the 61 units sold in April 2023.
As per Rajesh Menon, the Director General of SIAM passenger vehicle sales continued on a trajectory. Hit a new high with 336,000 units sold in April 2024 though with only a slight growth of 1.3% compared to the same month last year. Two-wheelers stood out by achieving a growth rate of 30.8% in April 2024 totaling 1.75 million units sold. Additionally, the three-wheeler category also saw promising sales numbers of 49,000 units marking a growth rate of 14.5% when compared to April 2023.
Overall the total production of vehicles including passenger vehicles, three-wheelers, two-wheelers, and quadricycles, in April 2024 reached a figure of 2,358,041 units. This underscores the thriving state of the automotive industry and showcases the substantial growth achieved during April 2024.
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