Indian automobile industry had major happenings in November 2024, with the dispatches of passenger vehicle to dealerships rising 4% YoY to 3,47,522 units. Two and three-wheeler segments remained under stress. Still, the overall demand after the festive season has remained quite healthy. Let’s see what the numbers reveal about the sector.
Passenger Vehicle Dispatches Witness Highest-Ever ,
in November
Passenger vehicle dispatches logged their highest-ever November sales at 3.48 lakh units, growing by 4.1% over the same month last year. This growth mirrors the continued demand momentum that began with the festive season in October.
Passenger Vehicle: Key Takeaways from Key Players
Maruti Suzuki India: The market leader delivered 1,41,312 units to dealerships, up 5% from 1,34,158 units sold in November 2023.
Hyundai Motor India: The company registered lower dispatches at 48,246 units compared with 49,451 units last year.
Mahindra & Mahindra: Strong, with sales up 16% at 46,222 units against 39,981 units in November 2023.
Two-Wheelers Decline 1%
While passenger cars were on a roll, two-wheeler wholesales slid down marginally by 1%, taking the count to 16,04,749 units against 16,23,399 units during November 2023.
Segment-wise Details
Scooters: It grew by a strong 12% and reached 5,68,580 units in November.
Motorcycles: Sales declined by 7.5% to 9,90,246 units.
Mopeds: It grew modestly by 6% and dispatched 45,923 units.
Three-Wheelers Down
Three-wheeler dispatches fell by 1% at 59,350 units in November. However, the industry is optimistic because of changing market trends.
Demand Continues to be Buoyant Post-Festive Season Passenger Vehicle
The festive season momentum from October spilled over into November, with the consumer demand being very strong. SIAM Director General Rajesh Menon pointed out that passenger vehicles have exceeded expectations, even without the Diwali festival impact in November.
Passenger Vehicle Industry Scenario for the Next Few Months
The industry is optimistic at the close of the year. However, the growth of motorcycles and three-wheelers needs to be watched as segments like scooters and mopeds are growing.
FAQs
1. What was the passenger vehicle dispatch number for November 2024?
Passenger vehicle dispatches for November 2024 stood at 3,47,522 units, up by 4% year-on-year.
2. Which one of the auto companies witnessed the maximum growth in November?
Mahindra & Mahindra saw the maximum growth of 16%, dispatching 46,222 units in November 2024 as compared to 39,981 units in November 2023.
3. How were two-wheeler sales in November 2024?
Two-wheeler sales edged down by 1% to 16,04,749 units from 16,23,399 units in November 2023.
4. What led to the fall in motorcycle sales?
Motorcycle dispatches were down by 7.5% on account of changing preferences and the economic pressure, which could be pushing up prices making them unaffordable to a lot of people.
5. Did scooter sales increase during November 2024?
Yes, the scooter sales grew by 12% at 5,68,580 units helped by good demand in the urban markets.
6. How did three-wheeler sales do in November 2024?
Three-wheeler dispatches declined by 1% to 59,350 units in November 2024.
7. What were the reasons for the robust sales of passenger vehicles?
Sustained demand after the festive season, strong consumer demand, and dealer dispatch strategies helped achieve sales.
8. How was November 2024 for Maruti Suzuki?
Maruti Suzuki India reported a 5% growth in dispatches with 1,41,312 units compared to 1,34,158 units in November 2023.
9. What is SIAM’s view on the industry’s performance in November 2024?
SIAM noted that the industry performed well overall, with passenger vehicles achieving record sales despite the absence of a Diwali boost in November.
10. What is the outlook for the automobile industry?
The industry remains cautiously optimistic, focusing on maintaining growth in passenger vehicles while addressing challenges in the two-wheeler and three-wheeler segments.
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