Passenger vehicle sales dip 2% in August as OEMs cut dispatches

Domestic passenger vehicle wholesales declined by about 2 per cent year-on-year in August as companies curtailed dispatches to reduce inventory at dealers amid a drop in demand.

According to data issued by the industry body Society of Indian Automobile Manufacturers (SIAM), the total passenger vehicle dispatches in the domestic market stood at 352,921 units last month compared to 359,228 vehicles in August 2023, a dip of 1.8 per cent.

Two-wheeler wholesales rose 9 per cent to 17,11,662 units last month against 15,66,594 units in the year-ago period, it added.

Scooter dispatches last month climbed to 606,250 units from 549,290 units in August 2023, a growth of 10 per cent.

Similarly, motorcycle dispatches from companies to dealers increased by 8 per cent to 10,60,866 units last month from 9,80,809 units in August 2023.

The total three-wheeler sales grew 8 per cent to 69,962 units last month against 64,944 units a year ago.

"Looking ahead, as the country enters the festive season, demand for vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of Government of India," SIAM director general Rajesh Menon said.