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Festival season boosts auto sales: passenger vehicles, two-wheelers hit record highs in October

Marked 0.9 per cent growth compared to last year
Photo for representation. File

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The festival season has driven a boost in auto sales, with passenger vehicle sales rising by 0.9 per cent and two-wheeler sales jumping over 14 per cent. According to data from the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in October 2024 reached a record 3.93 lakh units, marking a 0.9 per cent growth compared to October 2023. This growth, however, came on the back of a strong base from last year.

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The two-wheeler segment also posted its highest-ever sales for October, reaching 21.64 lakh units, a growth of 14.2 per cent compared to October 2023. Scooters and motorcycles led the way, with sales growing by 22.3 per cent and 11.0 per cent, respectively.

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Rajesh Menon, Director General of SIAM, commented on the performance: “October 2024 saw two major festivals, Dussehra and Diwali, both falling in the same month. This traditionally drives higher consumer demand and provided a significant boost to the auto industry’s performance.”

This strong growth was also reflected in vehicle registration data from Vahan, with registrations for passenger vehicles as well as two-wheelers showing over 30 per cent growth in October 2024 compared to the previous year. However, the three-wheeler segment experienced a slight dip of 0.7 per cent, with sales of 0.77 lakh units. Despite this, registrations for three-wheelers grew by 11 per cent year-on-year.

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