Festive Demand Helps PV Wholesales Rise Marginally In October: SIAM

Car Sales in October: Aided by festive demand, domestic passenger vehicle wholesales rose marginally year-on-year to 3,93,238 units in October, industry body SIAM said on Wednesday.

overall passenger vehicle dispatches by companies to dealers stood at 3,89,714 units in October last year.

Total two-wheeler sales rose 14 per cent year-on-year to 21,64,276 units last month, as compared to 18,95,799 units in October 2023, Society of Indian Automobile Manufacturers (SIAM) said in a statement.

Scooter sales witnessed a 22 per cent on-year rise to 7,21,200 units in October. Motorcycle dispatches saw an increase of 11 per cent to 13,90,696 units in previous month, as against 12,52,835 up units in October, 2023.

Moped sales declined to 52,380 units in October this year, as against 53,162 units in same month a year ago.

Three-wheeler dispatches to dealers from companies saw a marginal dip last month at 76,770 units, as compared to 77,344 units in October last year.

"October 2024 saw two major festivals Dussehra and Diwali , both occurring in same month, which tritionally drive higher consumer demand, providing a significant boost to auto industry's performance," SIAM Director General Rajesh Men stated.

Passenger vehicles posted its highest-ever sales of October in 2024 at 3.93 lakh units, with a growth of 0.9 per cent, albeit on a high base of last October, he ded.

two-wheeler segment also posted highest-ever sales of October in 2024, Men said.

"This high growth was also reflected in Vahan vehicle registration data, wherein more than 30 per cent growth in registration was witnessed for both passenger vehicles and two-wheelers in October 2024, compared to October 2023," he stated.