Passenger vehicle wholesales up 8.4% at 4,218,746 units in FY24: SIAM

According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle wholesales in India witnessed a notable 8.4% year-on-year increase, reaching 4,218,746 units during the financial year 2023-24. This marks a significant uptick from the previous fiscal year's dispatches of 3,890,114 units. Similarly, two-wheeler sales also saw a robust growth of 13.3% in the same period, totalling 17,974,365 units compared to 15,862,771 units in the financial year 2022-23. Overall, vehicle sales across all categories experienced a commendable surge of 12.5%, reaching 23,853,463 units, up from 21,204,846 units recorded in the preceding fiscal year. These figures indicate a promising trajectory for the Indian automobile industry, reflecting growing consumer demand and positive market sentiment amidst evolving economic dynamics.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.