Strong start to 2-wheeler for 2024-25 with 31% sales growth in April; overall passenger vehicles segment subdued

New Delhi [India], May 14 : Continuing with the trends from the last quarter of 2023-24, a significant 30.8 per cent growth in two-wheeler sales were reported in April on a yearly basis. In the first month of the current financial year 2024-25, sales of two-wheelers were reported at 17.5 lakh units.

The three-wheeler segment reported sales of about 0.49 lakh units, with a growth of 14.5 per cent in April 2024, compared to April 2023, data released by the Society of Indian Automobile Manufacturers (SIAM) showed Tuesday.

Overall, passenger vehicles continued the highest-ever monthly sales trend with 3.36 lakh units, though with a marginal growth of 1.3 per cent, in April 2024, as compared to April 2023.

Here is a table detailing the sales, overall and category-wise, for April 2024:

"Year 2024-25 has started on a reasonably good note for the Auto industry, as all the segments have posted growth in April 2024, compared to April 2023, driven by positive consumer sentiments and festivities in this month," said Vinod Aggarwal, President, SIAM.

"Above normal monsoon rainfall, policy continuity post-elections and Government's push on manufacturing and infrastructure would propel the overall economic growth which would help in continuing the Auto sector's growth trajectory."

Backed by robust economic growth and a conducive government, the Indian automobile industry has posted a satisfactory performance with sales growing by 12.5 per cent during the just-concluded financial year.

During 2023-24, total domestic sales rose from 2.12 million units to 2.38 million units. Category-wise, passenger vehicle sales rose 8.4 per cent, three wheelers 41.5 per cent, two wheelers 13.3 per cent, commercial vehicles marginally by 0.6 per cent.

Separately, the auto sale number for April 2024, shows that the overall sale of passenger vehicle has declined as compared to March, except Mahindra who have shown a marginal growth of 3 per cent.

But on a yearly basis big auto makers have increased their sale in FY24. As compared to FY23, Maruti Suzuki sale has gone up by 5 per cent, Tata motors by 2 per cent while Mahindra showed an impressive growth of 13 per cent increase in the passenger vehicle segment.

Maruti Suzuki sold 1,68,089 passenger vehicles in April as compared to 1,87,196 vehicle in March, a 10 per cent decline. Tata motors sale also declined by 5 per cent in April to 47,983 PVs from 50,297 PVs in March. Mahindra however has gained and registered a positive growth of 3 percent even in April with passenger vehicle sales at 70,471 up from 68,413 in March.

In contrast the two-wheelers segment has registered a positive growth even in the month of April 2024 as compared to March. Bajaj, Hero, TVS and Eicher all have shown a growth of 6, 9, 8 and 8 per cent respectively.

In the commercial vehicles (CV) segment, sales declined across major companies in April as compared with March. But Tata Motors and Ashok Leyland have shown an impressive growth of 31 per cent and 10 per cent in FY24, Eicher however shown a negative growth of 18 per cent.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor