Two-wheeler sales in India rose 26% to 1.49mn units in January

New Delhi: Two-wheeler sales in India rose 26 per cent to 1.49 million units in January 2024 as against 1.18 million units sold in the same month of last year, according to data put out by the Society of Indian Automobile Manufacturers released on Wednesday.

According to SIAM, passenger vehicle sales were 393,074 units in January 2024 as against 346,080 units sold in January 2023, registering a year-on-year growth of 14 per cent.

Three-wheeler sales were 53,537 units in January 2024 as against 48,903 units sold in the same month of the previous year.

"Passenger vehicle sales have remained resilient led by positive consumer sentiments, while the Two-Wheeler Segment witnessed good growth in January as well, as the rural market continues to recover. Three-Wheeler segment has also performed better," said Vinod Aggarwal, President, of SIAM.

Though the commercial vehicle sector did not grow in January 2024, it is likely to see good offtake in the next 2 months of this financial year 2023-24, said Aggarwal.

"Government's strategic focus on mobility in Budget 2024, including strengthening the electric vehicle ecosystem, especially the charging infra and public transport, should help in continuing with the overall growth momentum for the Auto Sector," he added.

Commenting on the January 2024 performance, Rajesh Menon, Director General, SIAM said, "Passenger Vehicles again saw highest ever sales in the month of January posting a growth of 14 per cent, as compared to the previous year. Three-Wheeler sales grew by 9 per cent during January 2024 while Two-Wheelers posted a good growth of 26 per cent in January 2024, compared to January 2023."

"Passenger Vehicles and Three-Wheelers continue to post their highest ever sales till date, in FY24, for the period April to January," Menon said.