Two-Wheeler Sales Spike While Passenger Vehicle Sales Dip in July
Key Highlights
- Passenger vehicle sales declined by 25% in July.
- Scooter sales surged by 292% in July compared to July 2022.
- Two-wheeler sales grew by 125%, with scooter sales driving the growth.
Passenger Vehicle Sales Slowdown
Passenger vehicle sales in July witnessed a significant drop of 25% year-on-year, with original equipment manufacturers (OEMs) adjusting their dispatches.
In July, passenger vehicle wholesales totaled 341,510 units, marking a decline from 454,072 units sold in July 2022.
Scooter Sales Surge
In contrast to the decline in passenger vehicles, scooter sales experienced a remarkable surge of 292% in July.
Sales of scooters reached 553,642 units in July compared to 428,640 units in July 2022.
Two-Wheeler Sales Rise
Overall, two-wheeler wholesales saw a significant increase of 125% in July, growing to 1,441,694 units.
This increase was primarily driven by the surge in scooter sales, while motorcycle sales also contributed to the growth.
Three-Wheeler Sales Increase
Three-wheeler wholesales also recorded an increase of 51% in July, with sales reaching 59,073 units.
Passenger carriers, a segment within three-wheelers, saw a substantial growth of 87% to 48,331 units.
Conclusion
Despite the decline in passenger vehicle sales, the Indian automotive industry witnessed strong growth in two-wheeler and three-wheeler sales in July.
The surge in scooter sales is attributed to factors such as rising fuel prices and increased demand for personal mobility solutions.
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