Vehicles across segments reported decline in domestic wholesales (dispatches to dealers) in May on yearly basis, except two-wheelers that still grew by lower single digit, on better demand from the rural markets.
According to the monthly sales data reported by Society of Indian Automobile Manufacturers (SIAM), the total passenger vehicle (PV) wholesales (dispatches to dealers) declined by 0.8 per cent year-on-year (y-o-y) to 3,44,656 units in May as compared with 3,47,492 units in May 2024.
The utility vehicles continued to drive the total PV sales in May too with a growth of more than 7 per cent y-o-y to 1,96,821 units as compared with 1,82,883 units in the corresponding month last year.
Passenger cars
But, the passenger cars declined by more than 12 per cent y-o-y to 93,951 units during the month against 1,06,952 units in May 2024.
In the PV segment, the overall growth was pulled down mainly because of the market leader, Maruti Suzuki India that had reported domestic sales of 1,35,962 units last month as compared to 1,44,002 units in May 2024.
Hyundai Motor India also registered domestic sales of 43,861 units as compared to 49,151 units during the month and Tata Motors also reported a y-o-y decline of 11 per cent in its sales to 41,557 units during the month against 46,697 units in May 2024.
In the three-wheeler segment, the total sales declined by 3.3 per cent y-o-y to 53,942 units during the month as compared with 55,763 units in the corresponding month last year.
However, the two-wheeler sales grew by 2.2 per cent y-o-y to 16,55,927 units last month as compared with 16,20,084 units in May 2024.
While the scooter sales grew by 7.1 per cent y-o-y to 5,79,507 units (against 5,40,866 units in May 2024), the motorcycle sales reported a marginal growth to 10,39,156 in May this year against 10,38,824 units in May last year.
“Going forward, the RBI’s three repo rate cuts totalling 100 basis points in less than six months, along with a forecast of above-normal monsoons are some of the indicators which should positively impact the auto sector by improving affordability and boosting consumer sentiment in the coming months,” Rajesh Menon, Director General, SIAM, said.