Passenger vehicle wholesales in India increased 17 percent to 2,98,093 units in January, revealed Society of Indian Automobile Manufacturers (SIAM) said on Monday. The industry body further added that this increase in wholesales is largely driven by robust offtake of utility vehicles, including the fast-growing sports utility vehicles (SUVs).

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The overall passenger vehicle dispatch from car manufacturers to dealers was 2,54,287 units in January 2022. Utility vehicle sales went up to 1,49,328 units in January 2023, from 1,16,962 units in the same month last year.

Passenger car dispatches grew to 1,36,931 units last month from 1,16,962 units in the year-ago period, while the wholesales of vans increased to 11,834 units from 10,632 units in January 2022.

Vinod Aggarwal, president of SIAM, stated that better consumer sentiment is driving demand for passenger vehicles. In the April-January period of this fiscal, the total passenger vehicle dispatches stood at 31,69,788 units, up 32 per cent from 24,03,125 units in the same period of last fiscal.

Rajesh Menon, Director General of SIAM, while elaborating further on sales, said, ”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.”

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Two-wheeler wholesales, on the other hand, rose 4 per cent to 11,84,379 units in January 2023, from 11,40,888 units in the same month last year. “The rate of growth of two-wheelers in the recent year has not kept pace with the growth in the other segments,” Aggarwal added.

While scooter dispatches increased to 3,76,035 units last month from 3,61,299 units in January 2022, Motorcycle wholesales rose to 7,71,621 units as compared with 7,43,804 units in the same month last year.

Moped sales jumped to 36,723 units from 35,785 units in the year-ago period. Three-wheeler dispatches surged over two-fold to 48,903 units last month from 24,178 units in January 2022. “Three-wheeler segment has gained traction compared to the past two years, though they are still to reach the pre-Covid levels,” Aggarwal said.

The passenger carrier segment witnessed the biggest growth at 37,061 units last month from 16,592 units in the year-ago period. Total wholesales across passenger vehicles, two-wheelers and three-wheelers rose to 15,31,447 units last month from 14,19,354 units in January 2022.

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(With input from PTI)

First Published:Feb 13, 2023 2:34 PM IST