Domestic passenger vehicle wholesales rise 2.94 pc in July: SIAM

Domestic passenger vehicles wholesales registered a 2.94 per cent year-on-year increase in July at 3,02,521 units, the Society of Indian Automobile Manufacturers said on Thursday.

As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 2,93,865 units in July 2022.

Two-wheeler domestic wholesales were down at 12,82,054 units last month, as against 13,81,303 units in July 2022.

Three-wheeler wholesales were higher at 56,034 units, as compared to 31,324 units in the year-ago month.

Total vehicle dispatches across categories were at 16,40,727 units, as compared to 17,06,545 units in July 2022, SIAM said.

”Though the passenger vehicle and three-wheeler segments are performing well, there has been a de-growth of two-wheelers in July 2023, compared to July 2022.

”Overall, we expect that the positive economic environment, good monsoons, and upcoming festive season will support continued growth in the auto industry,” SIAM President Vinod Aggarwal SIAM said.