Society of Indian Automobile Manufacturers (SIAM) has released its data for vehicle production, domestic sales, and exports for January 2025 reflecting a mixed bag of results. In January 2025, the total production across passenger vehicles, two-wheelers, three-wheelers, and quadricycles reached 25,46,643 units, marking a 9.3% increase compared to January 2024. Domestic sales were reported at 19,35,696 units, up 2.5% year-on-year, while exports surged significantly by 40.2% to 4,62,500 units, showcasing strong demand from international markets.
PVs Record Domestic Sales & Export Growth
The passenger vehicle segment recorded its highest-ever January domestic sales at 3,99,386 units, a 1.6% growth over the previous year. However, it is important to note that this figure includes Tata Motors’ data in the press release, while detailed break-ups for Tata Motors were not provided in the individual reports. Excluding Tata Motors, sales were 3,51,310 units, reflecting a modest 3.5% growth.
Utility vehicles (UVs) continued to drive growth within the passenger vehicle category, with a 6% rise in domestic sales to 2,12,995 units. Meanwhile, passenger car sales remained flat at 1,27,065 units, and van sales declined by 6.4% to 11,250 units. Exports of passenger vehicles saw a substantial 16.9% increase, led by a 61.5% growth in UV exports.
2Ws Mixed Domestic Trends, Strong Export Performance
The two-wheeler segment saw domestic sales rise marginally by 2.1% to 15,26,218 units in January 2025. Scooters continued their upward trajectory with a 12.4% growth, selling 5,48,201 units. Conversely, motorcycles, which form the bulk of the segment, saw a decline of 3.1% to 9,36,145 units, while mopeds experienced a minor dip of 0.4%.
Exports of two-wheelers demonstrated robust growth, increasing by 46.2% to 3,80,528 units. The surge was driven primarily by motorcycles, which saw a significant 49.7% jump in overseas demand.
3Ws Positive Domestic Momentum, Export Challenges
The three-wheeler segment posted a 7.7% growth in domestic sales, reaching 58,167 units. Passenger carriers led the growth with a 10.4% increase, while goods carriers saw negligible growth of 0.3%. However, electric three-wheelers, particularly e-rickshaws, witnessed a decline in domestic sales, reflecting a 20.6% drop compared to January 2024.
Exports of three-wheelers grew by 19.4% to 23,859 units, with passenger carriers showing strong demand in overseas markets.
Challenges & Opportunities
While the passenger vehicle segment achieved record sales, the decline in motorcycle sales and the stagnation in moped sales underline the changing consumer preferences and market challenges within the two-wheeler segment. The three-wheeler market, though growing domestically, faces hurdles in the electrification of certain sub-segments.
Exports Shine Amidst Domestic Variations
The robust export growth across all segments demonstrates the increasing global competitiveness of Indian manufacturers. This is especially evident in the two-wheeler and passenger vehicle categories, which are benefitting from favourable international demand and the ‘Make in India’ initiative.
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