Domestic PV Sales, May 2024: May saw the highest-ever level of domestic passenger vehicle sales.
PV Manufacturers See Record May Sales Domestic Demand Surges 3.9%: Industry Insights
Domestic PVs Sales, May 2024: The Society of Indian Automobile Manufacturers (SIAM), an industry association, reports that domestic passenger vehicle sales increased 3.87 percent year over year to 3,47,492 units in May, the highest number of the month.
SIAM stated that data from Mercedes, BMW, JLR, and Volvo Auto was not included in the study.
Motorcycle sales rose 5.0% to 10,38,824 units, accounting for 10.09 percent of the 10.09 percent increase in domestic two-wheeler sales to 16,20,084 units.
Additionally, domestic three-wheeler sales increased to 55,763 units, a 14.71 percent increase.
Auto sector growth 2024-2025, PV Manufacturers See Record May Sales
The expansion of the automotive industry has exceeded forecasts, according to SIAM President Vinod Aggarwal. The auto sector is confident about sustained growth in 2024–2025 as well, he stated, with prospects of an above-normal monsoon and continued emphasis on economic development by the new administration, as it pursues its aim of ‘Viksit Bharat’ by 2047.
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