July Auto Sales Report Released by Society of Indian Automobile Manufacturers (SIAM)
In June, passenger vehicle sales witnessed a 3% increase to 337,757 units compared to the previous month. Sales of three-wheelers and two-wheelers also surged, rising by 12.3% to 59,544 units and 21.3% to 1,614,154 units, respectively.
The automotive industry produced a combined total of 2,336,255 units in June.
Q1 Performance: Robust Growth Across Segments
The April-June quarter saw significant growth in all segments:
* Passenger vehicles: 1,026,006 units sold
* Commercial vehicles: 224,209 units sold
* Three-wheelers: 165,081 units sold
* Two-wheelers: 4,985,631 units sold
Total sales across all segments amounted to 7,548,668 units.
Industry Outlook: Positive Expectations
SIAM President Vinod Aggarwal expressed optimism for the industry’s prospects, highlighting the growth in all segments. He anticipates better performance in the remaining quarters due to a favorable monsoon outlook and the upcoming festive season.
Quarterly Highlights
* Passenger vehicle sales reached their highest-ever Q1 figures, exceeding 1 million units for the first time, marking a 3% growth year-on-year.
* Three-wheeler sales grew by 14.2% year-on-year.
* Two-wheeler sales surged by 20.4% year-on-year.
* Commercial vehicle sales increased by 3.5% year-on-year.
SIAM reported an overall 16.4% growth in auto sales during the April-June quarter.
