siam car sales | Image:car market
January car sales: Japan recently made the leap as the third-largest automaker, but car sales in January were pretty strong, but then car sales in December 2023 were sluggish. According to Society of Indian Automobile Manufacturers (SIAM) data released on Wednesday, the total production of passenger vehicles (PV) stood at 2,328,329 units, with PV sales including three-wheelers, two-wheelers and four-wheelers also increasing. Increased sales. Total PV sales rose 12% to 393 million units in January, driven by new product launches and increased demand from the wedding season. However, according to the SIAM interim regulations, budgetboosting mobility and strengthening electric vehicle infrastructure helped the automotive sector.
“The announcement to strengthen the electric vehicle ecosystem by supporting manufacturing and charging infrastructure will accelerate the development and adoption of EVs in the country,” SIAM president Vinod Agarwal said in an interview with Republic Business. Deaf,” he said.
He further said that encouraging payment security mechanisms for the adoption of e-buses in public transport networks is also a welcome step.
Domestic passenger car sales in January this year were 393,074 units, three-wheeler sales were 53,537 units, and two-wheeler sales were 1,495,183 units. According to SIAM data, domestic car sales in January reached 1.27 million units.
PV resilience
Commenting on the January 2024 sales data, SIAM President Vinod Agarwal said, “Passenger car sales remain strong led by strong consumer sentiment, while the two-wheeler sector continues to improve as rural markets continue to recover. “Also recorded strong growth in January.” ”
“The three-wheeler segment also performed well. Although the commercial vehicle sector did not grow in January 2024, we can expect good growth in the next two months of the current fiscal,” added the SIAM chairman.
Agarwal said the government has a strategic focus on mobility in the interim. budget In 2024, the electric vehicle ecosystem, especially including strengthening charging infrastructure and public transport, will help continue the growth momentum of the overall automotive sector.
Rajesh Menon, executive director of SIAM, said, “Passenger car sales continued to record high sales in January, increasing 14% year-on-year.”
“Three-wheeler sales increased by 9% in January 2024 and two-wheelers recorded a good growth of 26% in January 2024 compared to January 2023.Passenger cars and three-wheelers increased by 9% in January 2024. “We continue to record record sales. We are scheduled for the April-January period in FY24,” said Siam DG.
According to the SIAM communiqué, the January 2024 report will continue to include data on production, domestic sales and exports excluding Tata Motors as a detailed breakdown of monthly data for Tata Motors is not available. Become. Thus, while the SIAM communiqué reflects the total sales of 3,46,080 units of passenger cars in January 2023 and 3,93,074 units in January 2024, the SIAM report reflects the total sales of 2,98,093 units in January 2023. , it is listed as 3,39,441 units in January 2024. .