2W Sales Decline By 1.6% In Q2 FY'24; PV & 3W Records Highest Ever Q2 Sales

BW Online Bureau Oct 16, 2023

The total production of Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycle in July-September 2023 was 74,03,794 units, as per the apex national body representing Indian automobile industry, SIAM.

Domestic Sales in July-September 2023:

➡ Passenger Vehicles sales were 10,74,189 units

➡ Commercial Vehicles4 sales were 2,47,929 units

➡ Three-wheeler sales were 1,95,215 units.

➡ Two-wheeler sales were 45,98,442 units

Commenting on sales data of Q2 for 2023-24, Vinod Aggarwal, President of SIAM, said, “Passenger Vehicle, Three Wheelers, and Commercial Vehicle segments continue to witness growth in Q2 of 2023-24, although Two Wheelers wholesales numbers have posted a marginal de-growth, compared to Q2 of last year, the retails have been encouraging. As we get into the festival season, all segments of the Industry are optimistic and look towards posting good numbers in Q3 as well.”

Performance: April-September 2023

The total production of Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycle in April-September 2023 was 1,39,07,485 units.

Domestic Sales in April-September 2023

➡ Passenger Vehicles sales were 20,70,163 units

➡ Commercial Vehicles sales were 4,65,063 units

➡ Three-wheeler sales were 3,39,690 units

➡ Two-wheeler sales were 87,39,406 units

This PV data does not include sales of BMW, Mercedes, JLR & Volvo Auto and CV data doesn't include sales of Daimler, JBM Auto & Scania.

Commenting on the Q2 2023-24 performance, Rajesh Menon, Director General at SIAM, said, “Sales of both Passenger Vehicles and Three Wheelers in Q2 of FY2023-24 has been the highest ever in Q2. Passenger Vehicles have posted a growth of 4.7 per cent and Three Wheelers have posted a growth of 62.2 per cent, compared to Q2 of last year. The Passenger Vehicle segment crossed 2 million units sales for the first time, in the first half of current financial year. Commercial Vehicles also posted a decent growth of 6.9 per cent in this Quarter, compared to Q2 of last financial year, driven by good growth in Medium and Heavy Commercial Vehicles. Two-Wheelers segment have declined by (-)1.6 per cent in this Quarter, as compared to last year.”

Domestic Sales: MonthlyBMW, Mercedes, JLR & Volvo Auto data are not included, Tata Motors Domestic Sales data for September included only in ‘Total PV’, detailed break-up is not available. However, without Tata Motors, ‘Total PV’ would be 3,07,389 units for September 2022 and 3,16,908 units for September 2023.