Summary:

The vehicle sector experienced a sales spike in October 2024, due to festivities such as Dussehra and Diwali. The passenger vehicle (PV) category saw its highest-ever October sales, with 393,238 units sold, reflecting a 0.9% increase over 2023. The two-wheeler (2W) segment saw a 14.2% rise, with 2,164,276 units sold. Scooters and motorcycles drove this growth, with gains of 22.3% and 11%, respectively, indicating strong demand.

Sales of three-wheelers fell by 0.7% to 76,770 units in October 2024, down from 77,344 units the previous year. Mr. Rajesh Menon, SIAM's Director General, attributed the increase in PV and 2W sales to the festival season, which boosted demand. VAHAN data revealed a 30% increase in PV and 2W registrations, while the three-wheeler market saw an 11% rise in registrations.

Source: IBEF 

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