Substantial drop in sales of passenger cars, goods carriers, light Commerical Vehicles in Q2 FY 25: SIAM data
Oct 14, 2024
New Delhi [India], October 14 : Sales of passenger cars in the country saw a significant decline in the second quarter of FY25, as highlighted by the latest sales data released by the Society of Indian Automobile Manufacturers (SIAM) on Monday.
According to SIAM data, Passenger Vehicle reported sales of 10,55,137 units in Q2 FY-25, therefore registering a decline of 1.8 percent. While Passenger cars declined around 20 percent, UV sales reported a 9 percent year on year growth.
The slowdown in sales was not limited to passenger cars alone. The data also indicated a decline in the sales of goods carriers, which dropped by 15.8 percent during the same period. In the second quarter of this year, 69,514 goods carriers were sold, down from 82,538 units in the corresponding period last year.
Light commercial vehicles also experienced a notable dip in sales. The segment saw a decline of 10.2 percent in the second quarter of FY25 compared to the previous year. Between July and September, 1,38,234 light commercial vehicles were sold, compared to 1,53,927 units in the same period last year.
This consistent drop across different segments of the automobile industry reflects the challenges facing the sector during the current fiscal year.
While the sales of passenger cars and commercial vehicles have declined, two-wheeler sales showed a more positive trend. Scooter sales recorded a growth of 16.9 percent in the second quarter, with a total of 18.32 lakh units sold compared to 15.67 lakh units in the same period last year.
Motorcycle sales also increased by 10.2 percent, reaching 32.09 lakh units compared to 29.13 lakh units in the year-ago quarter.
On the other hand, the electric rickshaw (E-rickshaw) segment saw a sharp decline in sales. E-rickshaw sales dropped by 30.7 percent in the second quarter, with only 7,227 units sold compared to 10,430 units in the same quarter last year.
The overall picture of the Indian automobile market for the second quarter of FY25 highlights contrasting trends, with declines in key segments like passenger cars and commercial vehicles, but growth in the two-wheeler market, particularly scooters and motorcycles.
