Passenger vehicle wholesales surge 13.54% in May to 3,34,247 units: SIAM

Domestic passenger vehicle wholesales grew by 13.54% on a Y-o-Y basis in May to 3,34,247 units

Domestic passenger vehicle wholesales grew by 13.54% on a Y-o-Y basis in May to 3,34,247 unitsthe Society of Indian Automobile Manufacturers (SIAM) said on June 13.

As per the latest data issued by SIAM, dispatches of passenger vehicles from manufacturers to dealers were at 2,94,392 units in May 2022. Two-wheeler domestic wholesales were at 14,71,550 units, as against 12,53,187 units in May last year, registering a growth of 17.42% Similarly, three-wheeler wholesales were higher at 48,732 units, as compared to 28,595 in May 2022.

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Total vehicle dispatches across categories were at 18,08,686 units, as compared to 15,32,861 units in May 2022, SIAM said.

"All the segments viz. passenger vehicles, two-wheelers and three-wheelers have posted growth in double digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevailing economic environment," SIAM President Vinod Aggarwal said.