The Society of Indian Automobile Manufacturers (SIAM) in its latest data has showed that domestic passenger vehicle wholesales rose 14 per cent year-on-year to 3,93,074 units in January 2024, amid robust demand for utility vehicles. It said dispatches of passenger vehicle from manufacturers to dealers stood at 3,46,080 units in January 2023.
According to the data, two-wheeler wholesales rose 26 per cent to 14,95,183 units in January 2024 as compared with 11,84,376 units in January last year. Three-wheeler wholesales witnessed a growth of 9 per cent at 53,537 units as against 48,903 units in January 2023.
SIAM President Vinod Aggarwal said passenger vehicle sales have remained resilient led by positive consumer sentiments, while the two-wheeler segment witnessed good growth in January as well as the rural market continues to recover. He added that though the commercial vehicle sector did not grow in January 2024, it is likely to see good offtake in the next two months of this financial year.
