Passenger vehicles, 3-wheelers report highest ever sales in October: Siam

The domestic sales for all vehicles in India were up 20% to 2,314,197 units in October this year as compared to 1,923,721 units last year

Passenger vehicles (PVs) and three-wheelers posted the highest-ever monthly sales in India in October, according to data released by the Society of Indian Automobile Manufacturers (Siam). At 389,714 units, PVs reported a 15 per cent jump in their sales in October as compared to 336,330 in the same month last year.

For three-wheelers, which includes e-rickshaws and e-carts, the total sales were up 42 per cent to 76,940 units as compared to 54,154 units a year ago. In two-wheelers, the sale was up 20.1 per cent at 1,895,799 units as compared to 1,578,383 units in October 2022.

"All three segments have posted double-digit growth. This growth momentum is encouraging for the industry which has been enabled by sustained conducive policies of the Government and the ongoing festive season," said Vinod Aggarwal, president at Siam.

The domestic sales for all vehicles in India were up 20 per cent to 2,314,197 units in October this year as compared to 1,923,721 units a year ago. The exports, however, were up marginally by 0.46 per cent to 371,030 units as compared to 369,318 units in October 2022. 

The production of all vehicles, according to Siam data, was up 19.6 per cent to 2,621,248 units in October this year as compared to 2,191,153 units last year.

For the PV segment, domestic sales rose 17.2 per cent to 341,377 units in October as compared to 291,113 units a year ago. The exports for this segment rose 13.13 per cent to 53,920 units against 47,660 units in October 2022.

In three-wheelers, the domestic sales were up 42 per cent to 76,940 units. The segment's exports, however, fell 25.4 per cent to 25,534 units.

In the two-wheeler segment, the domestic sales were up 20.1 per cent to 1,895,799 units as compared to 1,578,363 units a year ago. The exports rose by a lower 1.37 per cent to 291,276 units.

In the April-October period, the domestic sales of all vehicles in India jumped 8.1 per cent to 13,464,712 units as compared to 12,455,891 units in the same period last year. The total exports during the period were down 15.19 per cent to 2,550,623 units, the data further revealed.