Automobile dispatches to dealerships rose in January as strong demand for passenger vehicles continued to offset the muted growth in the two-wheeler segment.
The total wholesale sales rose 8% to 15.31 lakh units, according to the data from the Society of Indian Automobile Manufacturers. The growth was led by passenger vehicle segment, with sales growing 17% year-on-year to 2.98 lakh units.
“Passenger Vehicles again saw highest-ever sales in the month of January and for the first time, it has crossed 3 million sales mark in 10 months, from April to January period,” Rajesh Menon, director general at SIAM, said in a statement.
The association's President Vinod Aggarwal said the rate of growth in two-wheeler segment has not kept pace with the growth in the other segments. Positive announcements at the Union Budget should help in continuing with the overall growth momentum, he said.
The two-wheeler sales rose nearly 4% to 11.8 lakh units in January, as both motorcycle and scooter dispatches remained weak.
The three-wheeler segment continued its recovery from the pandemic slump, as dispatches more than doubled to 48,903 units.
Three-wheeler segment has gained traction compared to the past two years, though they are still to reach the pre-Covid levels, Aggarwal said, in the statement.
SIAM January 2023 Volumes (YoY):
Passenger car sales grew 8% to 1.37 lakh units.
SUV sales rose 19% to 1.39 lakh units.
Motorcycle sales grew 3.74% to 7.72 lakh units.
Scooter sales surged 4.1% to 3.76 lakh units.
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