India’s Automobile Sales Jump 11.6% to Record 2.5 Crore Units in 2024

With this, India remained the world's third largest car market last year.

India's automobile sales rose by a strong 11.6 per cent in 2024 to reach the highest-ever mark of 2.5 crore units compared with the corresponding figure of 2.3 crore units in the previous year, according to wholesale data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.

With this, India remained the world's third largest car market last year.

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"Positive consumer sentiments and macroeconomic stability of the country have again helped propel reasonable growth for the automobile sector across vehicle segments," said SIAM president Shailesh Chandra.

This has primarily been the growth of two-wheelers. It grew at 14.5 per cent in 2024 compared with the previous year, posting 1.95 crore units' sales. Moreover, passenger vehicle and three-wheelers posted sales in a calendar year for the first time in their history.

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Passenger vehicles (PV) grew by 4.2 per cent in 2024 as compared to the previous year, with sales of around 43 lakh units. Three-wheelers posted a growth of 6.8 per cent in 2024 as compared to the previous year, with sales of 7.3 lakh units.
Passenger vehicle dispatches to dealers rose 10 per cent to 3,14,934 units against 2,86,390 units in December 2023.

Two-wheeler dispatches declined by 9 per cent at 11,05,565 units over 12,12,238 units in December 2023. Three-wheeler dispatches rose to 52,733 units in December from 50,947 units in December 2023, SIAM said.
In the October-December quarter, passenger vehicles, commercial vehicles and three-wheelers posted their highest ever growth.

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"The stable policy ecosystem of government in 2024, continuing from the previous years, has helped the industry. As the new year begins with a positive sentiment being created through the Bharat Mobility Global Expo, this momentum would further propel growth in 2025," Chandra noted.

Passenger vehicles, commercial vehicles and three-wheelers posted their highest-ever sales of Q3 in the October-December quarter, said SIAM director general, Rajesh Menon.

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Passenger vehicles grew by 4.5 per cent in Q3 of 2024-25 with sales of 10.6 lakh units compared to the previous year.

PV wholesales saw a strong 10 per cent growth in December to 3.15 lakh units compared to 2.86 lakh units in December 2023 with vehicle manufacturers offering discounts to clear piled up inventory before the start of 2025.

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Read also| Mercedes-Benz EQS 450 Launched in India At Rs 1.28 Crore | All You Need to Know

Read also| Mercedes Achieves Best-Ever Sales in 2024, Plans to Launch 8 Models This Year

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