New Delhi, April 15 (H.S.): The wholesale sales of passenger vehicles in the country increased by two percent year-on-year, surpassing a record 4.3 million units in the financial year 2024-25. The share of utility vehicles in total passenger vehicle sales remained at 65 percent, which was approximately 60 percent in the financial year 2023-24. In the previous financial year 2023-24, it was 4,218,750 units.

The industry body Society of Indian Automobile Manufacturers (SIAM) reported on Tuesday that sales of utility vehicles grew by 11 percent in the financial year 2024-25, reaching 2,797,229 units, compared to 2,520,691 units in the financial year 2023-24. In contrast, sales of passenger cars saw a decline of 13 percent, falling from 1,548,947 units in the previous financial year 2023-24 to 1,353,287 units. SIAM stated that the passenger vehicle segment also recorded its highest ever export of 770,000 units in the financial year 2024-25, reflecting a 15 percent increase compared to the financial year 2023-24. The increase in exports was driven by the demand for globally manufactured models produced in the country.

According to the industry body, wholesale sales of two-wheeler vehicles increased by nine percent in the financial year 2024-25, reaching 19,607,332 units, compared to 17,974,365 units in the financial year 2023-24. SIAM indicated that the total wholesale sales of commercial vehicles decreased by one percent in the last financial year to 956,671 units, down from 968,770 units in the financial year 2023-24. However, during the same period, sales of three-wheeled vehicles increased by seven percent year-on-year, reaching 741,420 units compared to 694,801 units.

SIAM President Shailesh Chandra stated, “The Indian automotive industry has continued its steady performance in the financial year 2024-25, driven by good demand, investment in infrastructure, supportive government policies, and a continuous emphasis on sustainable transport.” Chandra mentioned that export demand is likely to continue in major markets like Africa and neighboring countries as the trend of 'Made in India' vehicles grows.

Hindusthan Samachar / Jun Sarkar