In November 2024, India’s automobile production remained robust, with a total of 24,07,351 units produced across passenger vehicles, three-wheelers, two-wheelers, and quadricycles. However, the domestic sales landscape showed mixed results, with record-breaking numbers in some segments and marginal declines in others, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
Passenger Vehicles Lead the Charge
Passenger vehicles (PVs) witnessed a historic high in November 2024, achieving the highest-ever sales for the month, with 3,47,522 units sold, marking a 4.1 per cent growth compared to November 2023. This milestone comes despite the absence of the Diwali festive season in November, traditionally a driver of high sales.
Commenting on the November month report, Rajesh Menon, Director General of SIAM, said, “The demand momentum from the October festive period continued in November, propelling the passenger vehicle segment to new heights. This performance underscores the growing consumer preference for personal mobility and the continued strength of the Indian automotive market.”
Two-Wheelers and Three-Wheelers Face Slight Declines
The two-wheeler segment, despite achieving a notable milestone of 16.05 lakh units sold in a non-festive November, recorded a 1.1 per cent decline compared to the previous year. Similarly, three-wheeler sales stood at 59,350 units, down by 1.3 per cent from November 2023.
Explaining the slight dip, Menon noted, "While the numbers crossed significant benchmarks, the marginal de-growth in these segments highlights the need for sustained efforts to boost demand, especially in rural and semi-urban markets where two-wheelers and three-wheelers are more dominant."
Notably, sales data from premium automakers such as BMW, Mercedes-Benz, Jaguar Land Rover (JLR), and Volvo were not included in the report. However, Tata Motors' domestic sales figures were incorporated.
Domestic Sales: Monthly
The above information does not include BMW, Mercedes, JLR & Volvo Auto data. Tata Motors Domestic Sales data included only in ‘Total PV’, detailed break-up is not available. However, without Tata Motors, ‘Total PV’ would be 2,87,765 for November 2023 and 3,00,459 for November 2024
As the year-end approaches, industry stakeholders are keenly watching the market dynamics, with hopes that the momentum in passenger vehicle sales will trickle down to other segments, ensuring holistic growth for India’s automobile sector.
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