Passenger Vehicle Sales Surge 14% in January
By Rediff Money Desk, NEWDELHI Feb 14, 2024 11:57
India's passenger vehicle wholesales reached a record high in January 2024, driven by strong demand for utility vehicles. Read more about the latest auto industry trends.
New Delhi, Feb 14 (PTI) Domestic passenger vehicle wholesales rose 14 per cent year-on-year to 3,93,074 units last month, the best-ever figure for January, amid robust demand for utility vehicles, industry body SIAM said on Wednesday.
As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicle from manufacturers to dealers stood at 3,46,080 units in January 2023.
Two-wheeler wholesales rose 26 per cent to 14,95,183 units last month as compared with 11,84,376 units in January last year.
"Passenger vehicle sales have remained resilient led by positive consumer sentiments, while the two-wheeler segment witnessed good growth in January as well as the rural market continues to recover," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said.
Though the commercial vehicle sector did not grow in January 2024, it is likely to see good offtake in the next two months of this financial year, he added.
Three-wheeler wholesales witnessed a growth of 9 per cent at 53,537 units as against 48,903 units in January 2023.
"Passenger vehicles and three-wheelers continue to post their highest-ever sales till date, in FY 24, for the period April to January," SIAM Director General Rajesh Menon said.
As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicle from manufacturers to dealers stood at 3,46,080 units in January 2023.
Two-wheeler wholesales rose 26 per cent to 14,95,183 units last month as compared with 11,84,376 units in January last year.
"Passenger vehicle sales have remained resilient led by positive consumer sentiments, while the two-wheeler segment witnessed good growth in January as well as the rural market continues to recover," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said.
Though the commercial vehicle sector did not grow in January 2024, it is likely to see good offtake in the next two months of this financial year, he added.
Three-wheeler wholesales witnessed a growth of 9 per cent at 53,537 units as against 48,903 units in January 2023.
"Passenger vehicles and three-wheelers continue to post their highest-ever sales till date, in FY 24, for the period April to January," SIAM Director General Rajesh Menon said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Kretto Syscon
- 1.03 ( -4.63)
- 138373597
- Thinkink Picturez
- 2.03 (+ 4.64)
- 77082948
- Rajnish Wellness
- 1.86 (+ 4.49)
- 51273863
- Vodafone Idea L
- 8.08 ( -0.25)
- 43651174
- Srestha Finvest
- 0.94 (+ 9.30)
- 39839348
MORE NEWS
Parliament Panel Urges Power Ministry to...
A Parliamentary panel has asked the power ministry to complete electrification of...
RBI Rate Cut in Feb? Analyst View on New Governor
Analysts predict a rate cut by the RBI in February following the appointment of Sanjay...
India's Maritime Legacy: IMHC 2024 Showcases...
The Indian Maritime Heritage Conclave (IMHC) 2024 will highlight India's rich maritime...