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Auto industry performance of May-2024

Auto industry performance of May-2024

Production: The total production of Passenger Vehicles*, Three Wheelers, Two Wheelers, and  Quadricycle in May 2024 was 24,55,637 units 


Domestic Sales: 

  • Passenger Vehicles** sales were 3,47,492 units in May 2024. 

  • Three-wheeler sales were 55,763 units in May 2024 

  • Two-wheeler sales were 16,20,084 units in May 2024. 

*BMW, Mercedes, JLR, Tata Motors & Volvo Auto data are not available. 

**BMW, Mercedes, JLR & Volvo Auto data are not available. Tata Motors Domestic Sales data included only in this document. 


Commenting on sales data of May 2024, Mr Vinod Aggarwal, President, SIAM said, “All the segments viz. Passenger Vehicles, Commercial Vehicles, Two-Wheelers and Three-Wheelers have posted growth in May 2024, compared to May 2023. Passenger Vehicles have only witnessed a moderate growth, primarily owing to a high base effect of the previous year.  However, Two Wheelers and Three Wheelers posted growth in double digits. With expectations of above normal monsoon and continued emphasis on economic development by the new  Government, as it pursues its goal of Viksit Bharat by 2047, the Auto Industry is optimistic of steady growth in 2024-25 as well.”


Commenting on May 2024 performance, Mr Rajesh Menon, Director General, SIAM said,  “Sales of Passenger Vehicles of May 2024 has been the highest ever in May again, although returning a moderate growth of 3.9%, compared to May 2023. Two-Wheelers posted a growth of 10.1% in May 2024, compared to last year, but are still lower than 2017-18 levels of the month of May. Domestic sales of Three-Wheelers in May 2024 grew by 14.7% compared to  May 2023, posting the highest ever sales of May, surpassing the previous peak of year 2018- 19.”

 

Domestic Sales: Monthly 



Category 

Domestic Sales (In Nos.)

Segment/Subsegment 

2023 

2024 

% Change

Total Passenger Vehicles***

 3,34,537 

3,47,492 

3.9%

Three Wheelers




Passenger Carrier 

38,454 

45,445 

18.2%

Goods Carrier 

7,545 

8,863 

17.5%

E-Rickshaw 

2,314 

1,203 

-48.0%

E-Cart 

297 

252 

-15.2%

Total Three Wheelers 

48,610 

55,763 

14.7%

Two Wheelers




Scooters 

4,46,593 

5,40,866 

21.1%

Motorcycles 

9,89,120 

10,38,824 

5.0%

Mopeds 

35,837 

40,394 

12.7%

Total Two Wheelers 

14,71,550 

16,20,084 

10.1%

Quadricycle 

35 

32 

-8.6%

***BMW, Mercedes, JLR & Volvo Auto data are not available. Tata Motors Domestic Sales data included only in ‘Total PV’, detailed break-up is not available. However, without Tata Motors, ‘Total PV’ would be 2,88,659 for May 2023 and 3,00,795 for May 2024


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