Festive demand helps PV wholesales rise marginally in October: SIAM

Aided by festive demand, domestic passenger vehicle wholesales rose marginally year-on-year to 393,238 units in October, industry body SIAM said on Wednesday.

The overall passenger vehicle dispatches by companies to dealers stood at 389,714 units in October last year.

Total two-wheeler sales rose 14 per cent year-on-year to 21,64,276 units last month, as compared to 18,95,799 units in October 2023, the Society of Indian Automobile Manufacturers (SIAM) said in a statement.

Scooter sales witnessed a 22 per cent on-year rise to 721,200 units in October.

Motorcycle dispatches saw an increase of 11 per cent to 13,90,696 units in the previous month, as against 12,52,835 up units in October, 2023.

Moped sales declined to 52,380 units in October this year, as against 53,162 units in the same month a year ago.

Three-wheeler dispatches to dealers from companies saw a marginal dip last month at 76,770 units, as compared to 77,344 units in October last year.

"October 2024 saw two major festivals Dussehra and Diwali, both occurring in the same month, which traditionally drive higher consumer demand, providing a significant boost to the auto industry's performance," SIAM director general Rajesh Menon stated.

Passenger vehicles posted its highest-ever sales of October in 2024 at 3.93 lakh units, with a growth of 0.9 per cent, albeit on a high base of last October, he added.

The two-wheeler segment also posted the highest-ever sales of October in 2024, Menon said.

"This high growth was also reflected in the Vahan vehicle registration data, wherein more than 30 per cent growth in registration was witnessed for both passenger vehicles and two-wheelers in October 2024, compared to October 2023," he stated.