May 14th 2024.
In New Delhi, the Society of Indian Automobile Manufacturers (SIAM) has announced some exciting news for the automotive industry. According to SIAM, the wholesale numbers for passenger vehicles in India have reached an all-time high in April. This impressive growth is mainly due to the high demand for utility vehicles.
In total, over 3,35,000 passenger vehicles were dispatched from companies to dealers last month, marking a 1.3% increase compared to the same time last year. The most significant surge was seen in the utility vehicle segment, with a 21% increase in sales from April 2023. This equates to an impressive 1,79,329 units sold in April 2024. In contrast, passenger car dispatches saw a decline of 23% to 96,357 units, while van sales saw a 15% increase to 12,060 units.
The two-wheeler segment has also shown substantial growth, with a 31% increase in wholesale numbers compared to April last year. Over 17,50,000 units were sold last month, with motorcycles leading the way with an impressive 34% increase in sales. Scooters also saw a 25% increase, with over 5,80,000 units sold in April.
Meanwhile, the three-wheeler segment also saw a rise of 14.5% in wholesale numbers, with over 49,000 units sold in April. SIAM President Vinod Aggarwal expressed his satisfaction with these numbers, stating that the current fiscal year has started on a positive note for the auto industry. He believes that this growth can be attributed to the positive consumer sentiments and festive season during the month. Aggarwal also predicts that the overall economic growth, along with the government's focus on manufacturing and infrastructure, will continue to drive the growth of the auto sector.
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