Passenger vehicle wholesales rise 14% to 3,93,074 units in January

New Delhi: Domestic passenger vehicle wholesales rose 14 per cent year-on-year to 3,93,074 units last month, the best-ever figure for January, amid robust demand for utility vehicles, industry body SIAM said on Wednesday.

As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicle from manufacturers to dealers stood at 3,46,080 units in January 2023.

Two-wheeler wholesales rose 26 per cent to 14,95,183 units last month as compared with 11,84,376 units in January last 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," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said.

Though the commercial vehicle sector did not grow in January 2024, it is likely to see good offtake in the next two months of this financial year, he added.

Three-wheeler wholesales witnessed a growth of 9 per cent at 53,537 units as against 48,903 units in January 2023.

"Passenger vehicles and three-wheelers continue to post their highest-ever sales till date, in FY 24, for the period April to January," SIAM Director General Rajesh Menon said.