Domestic PV wholesales up 4% YoY in November, 2W sales down 1.1%: SIAM

India’s passenger vehicle industry saw its wholesale volume in November grow on a year-on-year basis, while both two and three-wheeler wholesales recorded a de-growth of around 1% during the month.

According to data from the Society of Indian Automobile Manufacturers released today, domestic passenger vehicle sales grew 4.1% on year to 3.48 lakh units, which represents the highest-ever November sales.

“The demand momentum which was seen in October during the festive period has continued in November for the industry as a whole, although two-wheeler and three-wheeler segments witnessed minor de-growth in November 2024,” said SIAM Director General Rajesh Menon.

Two-wheeler sales dropped 1.1% to 16.05 lakh units due to weakness in motorcycle dispatches. Motorcycle wholesales during the month fell 7.5% to 9.90 lakh units. However, scooter dispatches recorded 11.7% growth to 5.69 lakh units.

“Though the Diwali festival did not fall in November in 2024, the Two-Wheeler segment posted sales of 16.05 Lakh units, crossing the 16 Lakh units mark for the first time in a non-Diwali November,” Menon said.

Three-wheeler wholesales in November came in at 59,350 units, down 1.3% from November 2023. Passenger carriers under the three-wheeler segment decreased marginally by 0.6% to 47,725 units.

On the production front, passenger vehicle volume grew 6.5% on year to 3.51 lakh units. Two-wheeler production also rose 8.8% to 19.78 lakh units while three-wheeler output dropped 5.5% to 76,997 units. 

Automakers in India exported 60,551 passenger vehicles, representing growth of 11.8%. Two-wheeler exports jumped 30.2% to 3.62 lakh units. However, three-wheeler exports declined 10.4% to 23,439 units. 

The passenger vehicle production, export and segment-wise data provided by SIAM does not include numbers from Tata Motors, BMW, Mercedes, Jaguar Land Rover and Volvo Auto. ENDS