Passenger vehicle wholesales hit record in May at 3,34,247 units: SIAM

Domestic passenger vehicles wholesales posted a record in May at 3,34,247 units growing at 13.54 per cent as compared to the same month last year, riding on robust growth of utility vehicle sales, the Society of Indian Automobile Manufacturers said on Tuesday.

SIAM Director General Rajesh Menon said sales of passenger vehicles of May 2023 has been the highest ever witnessed for the month of May. Image Courtesy: Pexels

Domestic passenger vehicles wholesales posted a record in May at 3,34,247 units growing at 13.54 per cent as compared to the same month last year, riding on robust growth of utility vehicle sales, the Society of Indian Automobile Manufacturers said on Tuesday.

As per the latest data issued by Society of Indian Automobile Manufacturers (SIAM) dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 2,94,392 units in May 2022. SIAM Director General Rajesh Menon said sales of passenger vehicles of May 2023 has been the highest ever witnessed for the month of May.

Utility vehicle wholesales, excluding that of Tata Motors which shares its numbers quarterly, grew by 33.5 per cent last month at 1,55,184 units, as compared to 1,16,255 units in the year-ago period. Two-wheeler domestic wholesales were at 14,71,550 units, as against 12,53,187 units in May last year, a growth of 17.42 per cent.

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Motorcycles sales grew by 20.63 per cent at 9,89,120 units last month, as compared to 8,19,940 units in May 2022, SIAM said. Scooter sales also rose 12.18 per cent at 4,46,593 units, as against 3,98,099 units in the year-ago month.

Similarly, three-wheeler wholesales were higher at 48,732 units, as compared to 28,595 units in May 2022. Total vehicle dispatches across categories, excluding Tata Motors, were at 18,08,686 units as compared to 15,32,861 units in May 2022, SIAM said.

"All the segments viz. Passenger vehicles, two-wheelers and three-wheelers have posted growth in double-digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevalent economic environment," SIAM President Vinod Aggarwal SIAM said.

Menon said while two-wheelers also posted a growth of 17.4 per cent in May 2023 compared to last year, the sales were "still lower than 2016-17 levels". He further said, "Domestic sales of three-wheelers in May 2023 grew by 70.4 per cent compared to May 2022, although on a low base, but still lower than the 2018-19 levels."

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