The April-June quarter of this fiscal saw the vehicle sales tally at 5.49 million units, up from 4.93 million units in the same period last year.
Vinod Aggarwal, President, SIAM (Society of Indian Automobile Manufacturers) said the industry had seamlessly transitioned to the stringent BS 6 Phase 2 emission norms which kicked in on April 1 this year.
“With expectations of a reasonable monsoon coupled with lowering inflation, we expect the economy to grow and help the auto sector. High-interest rates, however, remain a concern,” he added.
Passenger vehicle (PV) sales crossed two million units in the January-June period which marked a first for the first half of a calendar year. The April-June quarter saw 995,974 PVs sold, compared to 910,495 units in the same period last fiscal, a 9.4% increase. Rajesh Menon, Director General, SIAM, said this was the highest-ever tally in a quarter.
Two-wheelers were up a tad in this quarter to 1.33 million units from last year's tally of 1.3 million units but were lower from the highs recorded in 2016-17.
As for three-wheelers, sales totalled 53,019 units in April-June, which was over twice as much from last year's 26,701 units. 'Domestic sales of 3Ws in Q1 of 2023-24 grew by 89.4% compared to last year, albeit on a low base, but are still lower than the 2018-19 levels,' said Menon.
The only setback was in commercial vehicles where sales were down 3.3% in this quarter.
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