Passenger vehicle wholesales dip 2 pc in August as OEMs cut dispatches

New Delhi: Wholesale of domestic passenger vehicles dropped by approximately 2 percent compared to the previous year in August due to companies reducing dispatches to lower dealer inventory in response to a decrease in demand. Data from SIAM shows a 1.8 pc  decrease in passenger vehicle dispatches last month in the Indian domestic market, dropping from 3,59,228 vehicles in August 2023 to 3,52,921 units.

Wholesale of two-wheelers increased by 9 percent last month to 17,11,662 units compared to 15,66,594 units in the same period last year. In September 2023, the number of scooter dispatches increased by 10 per cent to 6,06,250 units from 5,49,290 units in August 2023. Likewise, there was an 8 per cent rise in motorcycle deliveries from companies to dealers last month, with the total reaching 1,060,866 units, up from 980,809 units in August 2023.

Sales of three-wheeler vehicles increased by 8 percent last month to 69,962 units, compared to 64,944 units sold the year before. SIAM Director General Rajesh Menon stated that the upcoming festive season will see an increase in vehicle demand, aided by the new PM E-DRIVE and PM-eBus Sewa Schemes introduced by the Government of India.