Two-wheeler sales soared to 21.6 lakh units in October 2024, up 14 per cent from October 2023, according to official data released by the Society of Indian Automobile Manufacturers (SIAM). Total domestic passenger vehicles dispatched to dealers by companies improved to 3.93 lakh units—its highest ever for the month—from last year’s October number of about 3.89 lakh units.
Bipeds ruled the sales in the festive month that saw Navratri, Dussehra, Diwali, and Dhanteras fervour across the country, despite massive dips in major stock-market indices due to FII selloff. “October 2024 saw two major festivals, Dussehra and Diwali, both occurring in the same month, which traditionally drive higher consumer demand, providing a significant boost to the auto industry’s performance,” said SIAM Director General Rajesh Menon.
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Around 13.9 lakh motorcycles were dispatched to dealers in October, up 11 per cent. Scooter demand was higher, with a 22 per cent growth to 7.2 lakh units.
According to the industry body SIAM, the sales jump was also reflected in the centralised government portal Vahan, which recorded more than 30 per cent year-on-year growth in registrations for passenger vehicles.
Earlier this week, Maruti Suzuki launched its compact sedan DZire, starting at Rs 6.79 lakh (ex-showroom) in India. It is also the first Maruti Suzuki car to ever get a 5-star Global NCAP rating.
In the first week of November, at EICMA 2024, two-wheeler brands Hero MotoCorp and Royal Enfield announced their new motorcycles. While the Bajaj-rival Hero launched the Karizma XMR 250, the Xpulse 210 and the Xtreme 250R, they were joined in Milan by Royal Enfield, who announced their foray into electric bikes.