The domestic wholesale of passenger vehicle segment grew marginally by 1.3% in April to 3,35,629 units as against 3,31, 278 units in the same period last year, according to recent data by the Society of Indian Automobile Manufacturers (SIAM). Of this, the sales of utility vehicles stood at 1,79,329 units, up 21.2% as against 1,48,005 units in the same period last year. The passenger cars, however, continued to witness dismal sales of 96,357 units, declining by 23.4% against 1,25,357 units in April last year. Meanwhile, the passenger vehicle exports recovered at 49,563 units in the first month of FY25, up 21.06% against 40,940 units in April last year.
Among auto manufacturers (except Tata Motors), Maruti Suzuki India Limited, the country’s largest automobile manufacturer, sold 1,37,952 units in the domestic market, up 0.46%, as against 1,37,320 units in April last year. Mahindra and Mahindra, the country’s largest SUV (sports utility vehicle) manufacturer sold 41,008 units during the month under review, up 18.1% against 34,698 sales in April last year.
South Korean automaker Hyundai also witnessed a marginal increase in sales at 50,201 units in the domestic market, up 1% as against 49,701 sales in the corresponding period of the previous fiscal year.
Meanwhile, two-wheeler sales stood at 17,51,393 units, up 30.8%, as against 13,38,588 units in April last year. The two-wheeler exports, however, rebounded and witnessed a growth of 24.3% in April to 3,20,877 units as against 2,58,187 units in April last year.
The sales of three-wheelers grew by 14.5% to 49,116 units as against 42,885 units in April last year. The three-wheeler exports, nonetheless, stood at 22,481 units, declining by 2.7%, as against 23,094 units in April last year.
“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. 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,” says Vinod Aggarwal, President, SIAM.
Meanwhile, retail automobile sales jumped 27% year-on-year in April 2024 on the back of strong two-wheeler sales which grew 33% to 16.43 lakh units. Amongst segments, the two-wheeler segment saw notable growth due to improved supply and the increasing demand for 125cc models, says FADA.
The passenger vehicle category experienced double-digit growth, supported by enhanced model availability and favourable market sentiments, particularly around festive events like Navratri and Gudi Padwa.
