Passenger vehicle wholesales dip 2 per cent in August: In August 2024, wholesale of passenger vehicles within the country declined by 2 percent on an annual basis. Amid falling demand, companies reduced supply to reduce the stock with dealers, due to which wholesale also declined. According to data from industry body Society of Indian Automobile Manufacturers (SIAM), the total consignment of passenger vehicles sent to dealers in the domestic market declined by 1.8 percent on an annual basis to 3,52,921 units last month. Whereas in the same month last year it was 3,59,228 units.
On the other hand, there has been an improvement in the wholesale of two-wheelers and three-wheelers. The supply of bikes has increased by 8 percent while the wholesale of scooters has increased by 10 percent. Now the eyes of the vehicle manufacturing companies are fixed on the festive season. Apart from this, sales are expected to increase due to the recent announcement of some schemes by the government.
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Two-wheeler wholesales increased by 2% to 1711662 units
According to the data, wholesale sales of two-wheelers rose 2% to 17,11,662 units last month. This figure was 15,66,594 units in the same period a year ago. Total three-wheeler sales rose to 69,962 units last month from 64,944 units a year ago.
Scooter wholesales in the country increased by 10%
Last month, the wholesale of scooters increased by 10 percent to 6,06,250 units, as against 5,49,290 units in August 2023. The supply of bikes from companies to dealers increased by 8 percent to 10,60,866 units last month, as against 9,80,809 units in August 2023.
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SIAM Director General Rajesh Menon said that the demand for vehicles is expected to increase with the start of the festive season in the country. It will also get a boost from the recent announcements of the Central Government’s Pradhan Mantri E-Drive and Pradhan Mantri E-Bus Seva schemes.
