India's Auto Sales Jump In May: SIAM
Total vehicle dispatches across categories were at 18.08 lakh units, as compared to 15.32 lakh units in May 2022, SIAM said.
India's auto sales registered strong growth in May after marking a robust start for the industry in fiscal 2023–24, supported by an improving economic environment.
The total wholesale sales rose 18% year-on-year to 18,08,686 units, according to the data from the Society of Indian Automobile Manufacturers.
The passenger vehicle category registered its highest ever sales in May, with a growth of 13.5% year-on-year to 3.34 lakh units. Though passenger car sales declined 2.97%, SUV sales, which account for more than half of the industry's volumes, showed a growth of 33.5%.
Passenger vehicle sales, including Tata Motors' dispatches, also rose 15% to 2.88 lakh units. The industry body has resumed publishing data with Tata Motors' sales, starting from April.
"We anticipate this trend to continue, supported by the prevailing economic environment," Vinod Aggarwal, president at SIAM said in a statement.
Two-wheeler sales, including scooters, motorcycles, and mopeds, jumped 17.4% year-on-year to 14.71 lakh units in May, with scooters seeing the highest jump of almost 12% compared to last May.
Three-wheeler sales jumped 70.4% year-on-year to 48,732 units in May, according to SIAM.
"The jump happened on a low base, and the three-wheeler sales are still lower than the 2018–19 levels," said Rajesh Menon, director general at SIAM.
"The Indian automobile industry is currently in a transition phase with new powertrain technologies offered to consumers ranging from electrified, bio-fuels and gaseous fuel driven vehicles," Aggarwal said.
SIAM May 2023 Volumes (YoY)
Passenger vehicle sales rose 13.5% to 3.34 lakh units.
Passenger car sales declined 2.97% to 1.2 lakh units.
SUV sales rose 33.5% to 1.55 lakh units.
Two-wheeler sales jump 17.4% to 14.71 lakh units.
Motorcycle sales up 20.6% to 9.89 lakh units.
Scooter sales grew 12.2% to 4.46 lakh units.
Three-wheeler sales grew 70.4% to 48,732 units.
The SIAM figures for the sale of automobiles also include monthly wholesale figures of Tata Motors Ltd.
