Passenger vehicle sales rise 11% in February

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Automobile companies dispatched 11% more passenger vehicles in February against the same month last year to dealers, industry body SIAM said on Tuesday.  The total number of vehicles sold was 3,70,786 against 3,34,790 units in February 2023.

As has been the trend for some time now, sports utility vehicles continued to steer demand in the market. SIAM Director General Rajesh Menon in a statement said, “Passenger vehicles again reported its highest-ever sales of February posting sales of 3.7 lakh units with a growth of 10.8 per cent as compared to February 2023.”

The total two-wheeler sales rose 35 per cent to 15,20,761 units in February, as against 11,29,661 units in the same month last year.

Three-wheeler dispatches rose to 54,584 units last month, as against 50,382 units in February last year. “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,” Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement.