Total passenger vehicle (PV) wholesales (dispatches to dealers) grew one per cent year-on-year (YoY) to 27,26,709 between April and November in the domestic market this year, as compared with 27,00,102 units in the same period last year.

However, exports during the period grew by more than 12 per cent YoY to 4,98,760 units, as against 4,44,855 units in the same period of 2023-24, the Society of Indian Automobile Manufacturers (SIAM) said in its latest monthly report on Friday.

In the two-wheeler segment, both domestic and exports recorded double-digit growth during the period. Domestic sales grew by 13.7 per cent YoY to 1,39,34,005 units (against 1,22,58,604 units), exports grew by 19.1 per cent YoY to 26,86,644 units in April-November period against 22,55,397 units in the same period in 2023-24.

The total number of vehicles across categories grew by 11.2 per cent YoY to 1,71,70,744 units during the period, as compared with 1,54,37,145 units in the corresponding period last year.

On a monthly basis, PV wholesales grew by 4.1 per cent YoY to 3,47,522 units in November, as compared with 3,33,833 units in November last year, SIAM said.

However, total two-wheeler dispatches declined by 1.1 per cent YoY to 16,04,749 units in November, as compared with 16,23,399 units in the corresponding month last year.

The total number of vehicles across categories declined marginally (0.3 per cent) to 19,64,558 units during the month, as compared with 19,71,370 units in November last year.

“The demand momentum seen in October during the festive period continued in November for the industry as a whole, although the two-wheeler and three-wheeler segments witnessed minor de-growth in November 2024. PV posted its highest ever sales of 3.48 lakh units in November 2024, a growth of 4.1 per cent as compared to November 2023,” Rajesh Menon, Director-General, SIAM, said.

Though Diwali did not fall in the month of November in 2024, the two-wheeler segment posted sales of 16.05 lakh units, crossing the 16-lakh units mark for the first time in a non-Diwali November, he said. “However, there was a de-growth of 1.1 per cent as compared to November of the previous year for two-wheelers,” Menon added.