Representative image of passenger vehicles.
Credit: PTI Photo
Bengaluru: Wholesale passenger vehicle (PV) sales in India recorded a year-on-year (YOY) increase of 3.0 per cent to 3,37,757 units last month, according to a report by SIAM on Friday.
However, retail PV sales experienced a YOY decline of 6.77 per cent for the same month, according to FADA.
This disparity indicates that the number of PVs moving from factories to dealers is significantly higher than the number of vehicles being sold from dealers to customers, leading to an inventory build-up that takes 62-67 days to clear as mentioned in FADA’s report earlier this week.
highest ever for a Q1, also having crossed 1 million units (10,26,006) in Q1 for the first time, with a growth of 3 per cent compared to the corresponding period of the previous fiscal, added the report.
“All segments viz., PV, commercial vehicle (CV), 2W and 3W posted growth in Q1 of FY25 over the Q1 of FY24. While PV and CV have witnessed moderate growth, the 2W and 3W have posted very handsome growth in double digits”, said Vinod Aggarwal, president, SIAM.
Sales of 3W in the first quarter of FY25 grew by 14.2 per cent to 1.65 lakh units compared to the Q1 of the previous fiscal which is again the highest ever in Q1. 2Ws also posted a growth of 20.4 per cent to 4.99 million units in this quarter, compared to last year while CVs posted a quarter-on-quarter growth of 3.5 per cent to 2.24 lakh units.