Auto Industry Performance of February-2024

Monthly Performance: February 2024

Production: The total production of Passenger Vehicles¹, Three Wheelers, Two Wheelers, and Quadricycle in February 2024 was 22,94,411 units

Domestic Sales:

• Passenger Vehicles² sales were 3,70,786 units in February 2024.
• Three-wheeler sales were 54,584 units in February 2024
• Two-wheeler sales were 15,20,761 units in February 2024.

¹ BMW, Mercedes, JLR, Tata Motors & Volvo Auto data are not available.

² BMW, Mercedes, JLR & Volvo Auto data are not available. Tata Motors Domestic Sales data included only in this document.

However, without Tata Motors, 'Total PV' would be 3,19,519 for February 2024

Commenting on sales data of February 2024, Mr Vinod Aggarwal, President, SIAM said, "Passenger Vehicles, Two-Wheelers, and Three-Wheelers have posted growth in February 2024 compared to the previous year, while Commercial Vehicles have witnessed a slight de-growth. Overall robust GDP growth of the country in Q3 of 2023-24 has helped the Auto Sector. The Bharat Mobility Global Expo 2024 held in February 2024, graced by the Hon'ble Prime Minister, has also created a strong positive sentiment for the consumers and therefore the Industry expects the growth momentum to continue."

Commenting on February 2024 sales performance, Mr Rajesh Menon, Director General, SIAM said, "Passenger Vehicles again reported its highest ever sales of February posting sales of 3.7 Lakh units with a growth of 10.8%, compared to February 2023. Three-Wheelers also reported moderate growth of 8.3% posting sales of about 0.55 Lakh units in February 2024. Two Wheelers posted an appreciable growth of 34.6% compared to February 2023 posting sales of 15.2 Lakh units."

Rajesh Menon, Director General, SIAM

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