The month of June brought good news for the Indian automobile industry, with a significant growth in two-wheeler sales. According to the data released by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales in India increased by 21.3 per cent year-on-year in June. A total of 16,14,154 units were sold, marking a substantial increase from the 13,30,826 units sold in June 2023. The sales of scooters saw a particularly impressive surge, with a 42 per cent year-on-year growth to 5.4 lakhs, up from 3.8 lakhs in June last year.
Bike sales also experienced a strong growth, with a 11 per cent increase in sales in June to 10.3 lakhs compared to 9.1 lakhs during the same period last year. The passenger vehicle sales also saw a positive trend, registering a 3 per cent year-on-year growth in June. A total of 3,37,757 units were sold, up from 3,27,788 units in June 2023. Furthermore, the sales of three-wheelers doubled with a 12.3 per cent increase, with a total of 59,544 units sold in June 2024 compared to 53,025 units in June 2023.
The overall sales data for June paints a positive picture for the Indian automobile industry, indicating a resilient and expanding market. The substantial growth in two-wheeler sales, particularly in scooters and motorcycles, along with an increase in passenger and three-wheeler sales, reflect a healthy demand for vehicles in the country. This growth is a promising sign for the industry, especially after the dip in passenger car sales in May.
In May, the sales of passenger cars had declined by over 11 per cent, according to SIAM data. Domestic sales of passenger cars fell from 1,20,364 units in May 2023 to 1,06,952 units in May 2024, a decrease of 11 per cent. Production of passenger cars also decreased by 13 per cent, from 1,63,619 units in May 2023 to 1,42,367 units in May 2024. Additionally, exports of passenger cars saw a drop of about 20 per cent, from 35,806 units in May 2023 to 28,802 units in May 2024.
Despite the slump in May, the sales figures for June show a positive turnaround for the automobile industry. The growth in two-wheeler, passenger vehicle, and three-wheeler sales signals a renewed confidence and consumer demand in the market. The increase in sales is a boost for auto companies and manufacturers, indicating a potential rebound in the industry after a challenging period. This growth trajectory in sales sets a positive tone for the future of the Indian automobile sector, with potential for further expansion and development in the coming months.
