Passenger vehicle (PV) dispatches rise 4% in Nov as demand sustains post-festive period: Society of Indian Automobile Manufacturers (SIAM)
- IBEF
- December 16, 2024
Passenger vehicle dispatches from manufacturers to dealerships increased by 4% YoY to 3,47,522 units in November 2024, maintaining demand momentum post the festive period in October, according to the Society of Indian Automobile Manufacturers (SIAM). In November 2023, dispatches stood at 3,33,833 units. Maruti Suzuki India, the market leader, dispatched 1,41,312 units, a 5% rise from 1,34,158 units in November 2023. Hyundai Motor India saw a decline, dispatching 48,246 units compared to 49,451 units in the same period last year. Mahindra & Mahindra recorded a 16% growth, with 46,222 units dispatched, up from 39,981 units in November 2023.
In contrast, two-wheeler wholesales fell by 1% YoY to 16,04,749 units, down from 16,23,399 units in November 2023. However, scooter sales rose 12% to 5,68,580 units, while bike dispatches decreased by 7.5% to 9,90,246 units. Moped wholesales saw a 6% increase to 45,923 units. Three-wheeler dispatches also declined by 1%, totalling 59,350 units. SIAM’s Director General, Mr. Rajesh Menon, noted that despite the absence of Diwali in November 2024, the passenger vehicle sector recorded its highest-ever November sales at 3.48 lakh units, a 4.1% growth from last year. The two-wheeler sector surpassed 16 lakh units in sales, a first for a non-Diwali November.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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