New Delhi: Wholesale sales of passenger vehicles crossed the 10 lakh mark for the first time in the June quarter on the back of robust demand for utility vehicles, industry body SIAM said on Friday.
Total passenger vehicle dispatches in the first quarter stood at 10,26,006 units, an increase of 3 per cent as compared to 9,96,565 units in April-June FY24.
Sales of utility vehicles rose 18 per cent to 6,45,794 units in the first quarter as against 5,47,194 units in the year-ago period. Van deliveries totaled 38,919 units, up from 35,648 units previously, an increase of 9 percent.
However, passenger cars saw a decline of 17 per cent to 3,41,293 units from 4,13,723 vehicles in the June quarter of the last fiscal year.
"Utility vehicles accounted for 63 percent of total passenger vehicle sales in the first quarter...we are witnessing a migration of customers from the sedan segment to utility vehicles," the Society's president told reporters. of Indian Automobile Manufacturers (SIAM), Vinod Aggarwal.
Sales of passenger vehicles were the highest ever recorded in the April-June period. Sales also crossed the 10 lakh mark during the period for the first time, SIAM managing director Rajesh Menon said.
Two-wheeler dispatches in the first quarter rose to 49,85,631 units, up 20 per cent compared to 41,40,964 units in the June quarter last year.
"Within two-wheelers, scooters have registered even stronger growth on the back of some green shoots of recovery in entry-level two-wheelers," Aggarwal said.
Wholesale sales of three-wheelers rose 14 per cent to 1,65,081 units in the first quarter, up from 1,44,530 units in the April-June period of the last fiscal year.
Commercial vehicle shipments saw an increase of 3.5 per cent year-on-year to 2,24,209 units in the quarter.
Unit shipments across categories rose 16 per cent to 64,01,006 units in the first quarter as compared to 54,98,752 units in the year-ago period.
"With a positive outlook on monsoon and the upcoming festive season, the automobile sector is all set to do better in the rest of the year," Aggarwal said.
When asked about SIAM's position on dealers seeking better inventory management from OEMs, he noted that fluctuations continue to occur and the industry body does not see it as a concern.
"We should not worry too much about the stock because I am sure all the respective companies where the stock level is high will take corrective action," Aggarwal said.
It is not that stock levels will be high in all companies, as some companies, in anticipation of higher sales, could have sold more units to their respective distributors.
To a query related to the Uttar Pradesh government's announcement of 100 per cent waiver of hybrid vehicle registration fees and its impact on electric vehicle sales, he said two different views were emerging at the OEM level. and, therefore, "SIAM would not like to comment" on the issue.
In the month of June, domestic wholesale sales of passenger vehicles increased 3 per cent year-on-year to 3,37,757 units.
Total shipments of passenger vehicles (PV) from companies to dealers amounted to 3,27,788 units in June 2023.
According to data released by SIAM, wholesale sales of two-wheelers increased by 21 percent to 16,14,154 units last month, compared to 13,30,826 units in June 2023.
Wholesale sales of three-wheelers rose 12 per cent to 59,544 units from 53,025 units in June last year.
Total passenger vehicle dispatches in the first quarter stood at 10,26,006 units, an increase of 3 per cent as compared to 9,96,565 units in April-June FY24.
Sales of utility vehicles rose 18 per cent to 6,45,794 units in the first quarter as against 5,47,194 units in the year-ago period. Van deliveries totaled 38,919 units, up from 35,648 units previously, an increase of 9 percent.
However, passenger cars saw a decline of 17 per cent to 3,41,293 units from 4,13,723 vehicles in the June quarter of the last fiscal year.
"Utility vehicles accounted for 63 percent of total passenger vehicle sales in the first quarter...we are witnessing a migration of customers from the sedan segment to utility vehicles," the Society's president told reporters. of Indian Automobile Manufacturers (SIAM), Vinod Aggarwal.
Sales of passenger vehicles were the highest ever recorded in the April-June period. Sales also crossed the 10 lakh mark during the period for the first time, SIAM managing director Rajesh Menon said.
Two-wheeler dispatches in the first quarter rose to 49,85,631 units, up 20 per cent compared to 41,40,964 units in the June quarter last year.
"Within two-wheelers, scooters have registered even stronger growth on the back of some green shoots of recovery in entry-level two-wheelers," Aggarwal said.
Wholesale sales of three-wheelers rose 14 per cent to 1,65,081 units in the first quarter, up from 1,44,530 units in the April-June period of the last fiscal year.
Commercial vehicle shipments saw an increase of 3.5 per cent year-on-year to 2,24,209 units in the quarter.
Unit shipments across categories rose 16 per cent to 64,01,006 units in the first quarter as compared to 54,98,752 units in the year-ago period.
"With a positive outlook on monsoon and the upcoming festive season, the automobile sector is all set to do better in the rest of the year," Aggarwal said.
When asked about SIAM's position on dealers seeking better inventory management from OEMs, he noted that fluctuations continue to occur and the industry body does not see it as a concern.
"We should not worry too much about the stock because I am sure all the respective companies where the stock level is high will take corrective action," Aggarwal said.
It is not that stock levels will be high in all companies, as some companies, in anticipation of higher sales, could have sold more units to their respective distributors.
To a query related to the Uttar Pradesh government's announcement of 100 per cent waiver of hybrid vehicle registration fees and its impact on electric vehicle sales, he said two different views were emerging at the OEM level. and, therefore, "SIAM would not like to comment" on the issue.
In the month of June, domestic wholesale sales of passenger vehicles increased 3 per cent year-on-year to 3,37,757 units.
Total shipments of passenger vehicles (PV) from companies to dealers amounted to 3,27,788 units in June 2023.
According to data released by SIAM, wholesale sales of two-wheelers increased by 21 percent to 16,14,154 units last month, compared to 13,30,826 units in June 2023.
Wholesale sales of three-wheelers rose 12 per cent to 59,544 units from 53,025 units in June last year.
