Maharashtra Sees Highest PV Sales In Q3 FY2024; UP Leads In Two-Wheeler & Overall Sales

The Society of Indian Automobile Manufacturers revealed a state-wise distribution of vehicle sales for the October – December 2023 period (Q3 FY2024). The data revealed that Uttar Pradesh was the largest auto market followed by Maharashtra, Gujarat, Tamil Nadu and Rajasthan. SIAM has reported total domestic wholesales of 61,65,997 units across the passenger vehicle, two-wheeler, three-wheeler, commercial vehicle, and quadricycle segments in Q3 FY2024 – up from 51,60,445 units in the same period in FY2023.

Also read: Passenger Vehicle Wholesales Cross 3.93 Lakh Units In January 2024; Grows 14 Per Cent
 

Maharashtra was the largest passenger vehicle market in Q3 FY2024.

Focusing on the individual segments, Maharashtra led the charge in the Passenger vehicle segment accounting for 11.96 per cent of all cars and SUVs sold in the market in Q3 FY2024. Uttar Pradesh stood second with a 10.04 per cent share followed by Gujarat at 8.46 per cent, Karnataka at 7.07 per cent, and Tamil Nadu at 6.61 per cent. The national capital Delhi was the seventh largest market for cars in Q3 FY2024 accounting for 5.94 per cent of total sales.

Also read: Overall Vehicle Sales In India Grew By 15% In January: FADA
 

Total passenger vehicle sales in Q3 FY2024 stood at 10,12,285 units in the domestic market.

Passenger vehicle sales in the domestic market amounted to 10,12,285 units in the October to December 2023 window on the back of growing demand for Utility Vehicles (UV). Passenger car sales dropped from 4,19,877 units in FY2023 to 3,44,173 units in FY2024 while UV sales surged from 4,87,138 units to 6,32,526 units. Sales of vans too were up year-on-year with 35,586 units sold in Q3 FY2024.

Uttar Pradesh led the sales in the two-wheeler segment.

In the two-wheeler space, Uttar Pradesh was the largest market accounting for a 14.35 per cent share of all bikes and scooters sold. Maharashtra stood second with a 10.98 per share followed by Madhya Pradesh, Tamil Nadu and Rajasthan. UP also took the lead in the three-wheeler category accounting for 12.75 per cent of all three-wheelers sold in the quarter. It was followed by Maharashtra with a 10.95 per cent share and Gujarat at 10.55 per cent stake.

Also read: SIAM: Passenger Vehicle Wholesales Crossed 4 Million Units in 2023
 

Two-wheeler segment posted sales growth across all sub-segments amounting to a cumulative 47,31,164 units.

Both two-wheelers and three-wheelers posted growth across all sub-segments in Q3 FY2024. Two-wheeler sales rose to 47,31,164 units in the period, up from 38,59,717 units in Q3 FY2023. Three-wheeler sales similarly rose from 1,38,511 in the October-December 2022 period to 1,87,215 units.

Uttar Pradesh was the largest market for three-wheelers followed by Maharashtra.

Maharashtra, however, was the largest market for commercial vehicles holding a 13.24 per cent share with UP in second at 9.84 per cent. Gujarat, Karnataka and Rajasthan rounded out the five largest markets.

Maharashtra led the other states in terms of commercial vehicle sales.

CV sales too posted growth across all sub-segments with 2,35,167 units sold in Q3 FY2024, up from 2,27,111 units in the previous financial year.