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According to data released by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales in the country increased by 26% in January 2024 compared to January 2023.
The total number of two-wheelers sold in India in January 2024 was 1.49 million units, up from 1.18 million units sold in the same month in 2023. The increase in sales was driven by a 14% increase in passenger car sales. Sales in the same month last year were 346,080 units, which increased to 393,074 units in January 2024.
According to the report, the three-wheeler segment also recorded strong growth in January 2024, registering a sales increase of 9% compared to January 2023. The total number of three-wheelers sold in India in January 2024 was 53,537 units, up from 48,903 units sold in the same month last year.
According to the report, the commercial vehicle sector did not witness any growth in January 2024, but is expected to register good growth in the next two months of the current fiscal. The government’s focus on mobility in Budget 2024 is expected to help maintain growth momentum across the automotive sector, including strengthening the electric vehicle ecosystem, particularly charging infrastructure and public transport. There is.
SIAM President Vinod Agarwal said, “Passenger car sales continue to perform well, led by strong consumer sentiment, and the two-wheeler segment also posted strong growth in January as rural markets continued to recover. ” he said.
According to the report, the three-wheeler sector performed well in January 2024. Passenger car sales hit a record high in January, increasing 14% year-on-year.
According to SIAM, three-wheeler sales increased by 9% in January 2024. Two-wheelers recorded a good growth of 26% in January 2024.
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