SIAM has released the motor vehicles data on production, domestic sales and exports of passenger vehicles, two-wheelers and three-wheelers for July 2024.

Monthly Performance: July 2024
Production: The total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles in July 2024 was 24,37,138 units.

Domestic Sales:
• Passenger Vehicles sales were 3,41,510 units in July 2024.
• Three-wheeler sales were 59,073 units in July 2024
• Two-wheeler sales were 14,41,694 units in July 2024.

Commenting on sales data of July 2024, Vinod Aggarwal, President, SIAM said, “Though three-wheeler and two-wheeler segments are performing well, there has been some de-growth of passenger vehicles and commercial vehicles in July 2024, compared to July 2023. The above-average rainfall coupled with the upcoming festive season will propel growth in the short term. In addition, enabling budget announcements which emphasize overall economic growth with fiscal support for infrastructure and the rural sector should augur well for the Auto sector in the medium term.”

Commenting on July-2024 performance, Rajesh Menon, Director General, SIAM said, “In July 2024, Passenger vehicle segment de-grew by (-)2.5 per cent compared to July 2023, posting sales of about 3.42 lakh units. Three Wheelers posted a growth of 5.1 per cent compared to July last year, with sales of 0.59 Lakh units in July 2024, which is close to the peak of 2018-19. The two-wheeler segment also posted a decent growth of 12.5 per cent in July 2024 as compared to July 2023, with sales of 14.42 Lakh units”.