Passenger vehicle (PV) wholesales in India saw a 4 per cent year-on-year (YoY) increase in May, reaching 3,47,492 units, according to the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. This marks a rise from 3,34,537 units in May 2023.
Despite this growth, SIAM President Vinod Aggarwal said that the increase was moderate due to the high base effect from the previous year. “Passenger vehicles have only witnessed a moderate growth, primarily owing to a high base effect of the previous year,” Aggarwal said.
In the two-wheeler segment, sales surged by 10 per cent, climbing to 16,20,084 units last month from 14,71,550 units in May 2023. Meanwhile, three-wheeler dispatches experienced a 15 per cent increase, totaling 55,763 units compared to 48,610 units in the same month last year.
This data highlights a steady growth trend in India’s automobile sector, particularly in the two and three-wheeler markets.
