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TVS Motor Company: Domestic PV sales up 2% at 3.61 lakh in September: SIAM

Domestic passenger vehicle sales for September grew by 1.87 per cent with 3.61 lakh units as against a sale of 3.55 lakh units in year-ago period, the Society of Indian Automobile Manufacturers (SIAM) monthly sales data showed on Monday.

Further the two-wheelers sales rose to 17,49,794 units in the previous month when compared to 17,35,19 lakh units in September 2022. SIAM also raised its concerns over the sluggish 2-wheeler sales, ET Now reported.

The three wheeler sales in September 2023, too, increased to 74,418 units from 50,626 year-on-year.

Total dispatches were up at 21,41,208 units during the previous month from 20,93,286 units in September 2022.

The overall sales in September quarter rose to 61,16,091 units from 60,52,739 units in the second quarter of 2022-23.

Furter, SIAM said that it does not see any issue related to chip supply currently and is optimistic about growth in the future.Passenger vehicle dispatches rose marginally to 10,74,189 units in the second quarter from 10,26,309 units in July-September period of last fiscal.Commercial vehicles dispatches rose to 2,47,929 units from 2,31,991 units in the year-ago period. Total three-wheeler wholesales rose to 1,95,215 units in second quarter as compared with 1,20,319 units in the same period last fiscal.

Total two-wheeler dispatches however declined to 45,98,442 units in July-September 2023 as against 46,73,931 units in the year-ago period.

SIAM President Vinod Aggarwal said passenger vehicles, three-wheelers, and commercial vehicle segments continued to witness growth in the second quarter of 2023-24, although two-wheeler wholesale numbers posted a marginal de-growth, compared to the same period of last year, PTI reported.

“As we get into the festival season, all segments of the industry are optimistic and look towards posting good numbers in Q3 as well,” he added.

This growth in the automobile sectors can be attributed to the all-round economic growth of the country, which is also enabled through the conducive government policies, Aggarwal said.

In august, passenger vehicle wholesales in the country rose 9 per cent year-on-year on the back of strong demand for utility models, including SUVs.

Overall passenger vehicle dispatches to dealers rose to 3,59,228 units last month from 3,28,376 units in August 2022. Utility vehicle sales increased 34 per cent year-on-year to 1,81,825 units.

(With inputs from PTI)

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