PV dispatches from factories rise 4% in May

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Passenger vehicle sales by manufacturers increased 4 per cent year-on-year in May to 3,47,492 units, versus the same month last year, industry body SIAM said on Tuesday.

Overall, the dispatches from the factories to dealer showrooms stood at 3,34,537 units in May 2023. “Passenger vehicles have only witnessed a moderate growth, primarily owing to a high base effect of the previous year,” the Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement.

The dispatches were the highest ever for the month of May so far, driven by robust offtake of utility vehicles.

India’s biggest passenger vehilce company Maruti Suzuki sold 1,44,002 units last month, as against 1,43,708 units in May 2023.

Hyundai Motor India dispatched 49,151 units in May, as compared to 48,601 units in May 2023.

Mahindra & Mahindra sold 43,218 units last month, as against 32,886 units in the year-ago period.

All the segments — passenger vehicles, commercial vehicles, two-wheelers and three-wheelers have posted growth in May, as compared to the same month last year, the Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement.

“Passenger vehicles have only witnessed a moderate growth, primarily owing to a high base effect of the previous year,” he noted.

Two-wheeler sales rose 10 per cent to 16,20,084 units last month, as compared to 14,71,550 units in the year-ago period.

With inputs from PTI