PV wholesales up 4.7% in Sept

New Delhi Passenger vehicle wholesales in India rose to its highest level in any quarter so far in the July-September period riding on the back of robust demand for utility vehicles, industry body SIAM said on Monday. Overall passenger vehicles (PV) dispatches from companies to dealers rose to 10,74,189 units in July-September 2023-24, up 4.7 per cent from 10,26,309 units in the same period of 2022-23.

It is also the first time ever that the domestic PV wholesales have crossed the 20 lakh mark in the first half (April-September) period of any financial year. “The sales growth in the PV segment is being fuelled by strong demand for the utility and sports utility vehicles. The vertical is now accounting for around 60 per cent of the overall sales,” Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal told reporters here. Sales of entry level cars however continue to dip, he added.

The entry level car wholesales dropped to 35,000 units in the second quarter as compared to the peak of 1.38 lakh cars in July-September 2018-19, Aggarwal said. Similar trend is there in the entry level two-wheeler segment with rural demand yet to pick up fully, he added. In the first six months of the fiscal, total PV wholesales rose to 20,70,163 units from 19,36,804 units.