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Informist, Wednesday, Aug 14, 2024

 

--SIAM: India Jul passenger vehicle sales 341,510 units 

--SIAM: India Jul passenger vehicle sales 341,510 units, dn 2.5% on yr 

--SIAM: India Jul 2-wheeler sales 1.44 mln units 

--SIAM: India Jul 2-wheeler sales 1.44 mln units, up 12.5% on year 

--SIAM: India Jul motorcycle sales 850,489 units vs 817,206 year ago 

--SIAM: India Jul scooter sales 553,642 units vs 428,640 units yr ago 

--SIAM: India Jul 3-wheeler sales 59,073 units 

--SIAM: India Jul 3-wheeler sales 59,073 units, up 5.1% on year 

--SIAM: Above avg rainfall, festive season to aid growth in short term 

--SIAM: Govt fiscal support for infra, rural to aid medium term growth 

 

MUMBAI – Overall vehicle despatches to dealerships in India rose slightly over 9% on year to 1.84 mln units in July, and exports were up 6.8% on year at 414,631 units, according to data from the Society of Indian Automobile Manufacturers released today. Factors such as improvement in rural demand led by above normal monsoon, and new model launches aided this growth. 

 

In July, the overall vehicle sales volume was driven by two-wheeler despatches, which rose 12.5% on year to 1.44 mln units. Three-wheeler despatches improved slightly over 5% on year to 59,073 units, according to the data. However, passenger vehicle sales, including those of Tata Motors Ltd, fell 2.5% on year to 341,510 units, and quadricycle despatches also plummeted to 19 units from 118 units in July last year.

 

On the outlook for the short- and medium-term, SIAM President Vinod Aggarwal said, "The above average rainfall coupled with the upcoming festive season is likely to again propel growth in the short term. In addition, enabling Budget announcements which emphasise on overall economic growth with fiscal support for infrastructure and rural sector should augur well for the auto sector in the medium term." 

 

In the two-wheeler category, motorcycles continued to account for a major portion of the total despatches in July. Wholesale sales of motorcycles rose around 4% on year to 850,489 units, and those of scooters surged slightly over 29% to 553,642 units. Sales of mopeds grew 3.7% on year to 37,563 units.

 

Among passenger vehicles, a decline in sales of entry-level cars and vans weighed on overall segment despatches. Sales of passenger cars dropped 12% on year to 96,652 units, and those of vans fell 1% to 11,916 units. However, sales of utility vehicles rose slightly over 4% on year to 188,217 units.

 

In July, sales of three-wheelers were driven by passenger carrier despatches, which rose 8.7% on year to 48,331 units, and those of electric carts surged 24.6% to 177 units during the month. In comparison, sales of goods carriers fell 5.9% on year to 8,312 units and those of electric rickshaws fell nearly 18% on year to 2,253 units.

 

In July, the automobile industry also reported healthy growth in exports. Despatches of passenger vehicles rose nearly 4% on year to 61,929 units last month and two-wheeler sales rose nearly 8% to 324,908 units. Meanwhile, exports of three-wheelers were up slightly over 1% on year at 27,074 units.

 

On the vehicle production front, the industry reported a growth of 16.8% on year in total output to 2.44 mln units. Two-wheeler production grew the most, by 21% on year to 1.95 mln units, and three-wheeler output was up 6% at 90,505 units. By comparison, production of passenger vehicles grew marginally on year to 397,854 units in July.

 

The Society of Indian Automobile Manufacturers detailed domestic vehicle sales figures for July as follows:

Segment	Jul-24	Jun-24	Jul-23	Year-on-year change (in %)
Passenger vehicles	341,510	337,757	350,355	-2.5
Passenger cars	96,652	100,406	109,859	-12
Utility vehicles	188,217	183,056	180,831	4.1
Vans	11,916	10,771	12,037	-1
Two-wheelers	1,441,694	1,614,154	1,282,054	12.5
Scooters/Scooterettes	553,642	542,851	428,640	29.2
Motorcycles/Step-through	850,489	1,030,906	817,206	4.1
Mopeds	37,563	40,397	36,208	3.7
Three-wheelers	59,073	59,544	56,204	5.1
Quadricycles	19	28	118	-83.9

* Data does not include sales numbers of BMW, Mercedes, Jaguar Land Rover, and Volvo Auto

 

The Society of Indian Automobile Manufacturers detailed vehicle production figures for July as follows:

Segment	Jul-24	Jun-24	Jul-23	Year-on-year change (in %)
Passenger vehicles	397,854	334,505	393,094	1.2
Passenger cars	149,410	120,577	167,138	-10.6
Utility vehicles	234,747	205,126	212,369	10.5
Vans	13,697	8,802	13,587	0.8
Two-wheelers	1,948,223	1,915,754	1,608,414	21.1
Scooters/Scooterettes	654,748	592,453	463,987	41.1
Motorcycles/Step-through	1,249,903	1,282,186	1,107,752	12.8
Mopeds	43,572	41,115	36,675	18.8
Three-wheelers	90,505	85,273	85,342	6
Quadricycles	556	723	356	56.2

* Data does not include sales of Tata Motors, BMW, Mercedes, Jaguar Land Rover, and Volvo Auto

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Darshan Nakhwa 

Edited by Tanima Banerjee

 

 

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