India’s Auto Market Accelerates: Two-Wheeler Sales Soar in April 2024

In April 2024, India’s two-wheeler sales surged by 30.8%, driven by festival buying and monsoon forecasts. Three-wheeler sales rose 14.5%. Overall, the market saw growth, except for a 70% drop in quadricycles.

Bhakti Kothari
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India’s two-wheeler sales in the domestic market shot up impressively by 30.8 per cent in April 2024 while sales of three wheelers rose by 14.5 per cent during that period, according to a monthly performance report by the Society of Indian Automobile Manufacturers, or SIAM.

In terms of numbers, sales of two-wheelers rose to 17,51,393 units year on year from 13,38,588 in April 2023 to record a 30.8 per cent jump. Three-wheelers sold around 0.49 lakh units, which signifies a 14.5 per cent jump in comparison to April 2023. Overall, passenger vehicles sold 3.36 lakh units, recording a slim year-on-year rise of 1.3 per cent in terms of monthly sales, the SIAM data for April 2024 said.

The only slump witnessed in April 2024 was in the segment of quadricycles, the SIAM report said. Sales slowed down by around 70 per cent for quadricycles during the given period. This, however, did not hamper an overall tendency of growth for the industry in the month of April 2024. The upward surge in numbers was notably buoyed by the sale of scooters, motorcycles, mopeds, goods carriers and passenger carrier vehicles that define India’s two-wheeler and three-wheeler markets.

The total production of passenger vehicles — including two-wheelers, three-wheelers and Quadricycles — in the month of April 2024 was 23,58,041 units, the SIAM report added.

The trend of growth in sales in this sector is thanks mainly to the buying spree prompted by festivals and ceremonies, the prediction of a generous monsoon over the upcoming months and the government’s steadfast positive approach towards developing infrastructure and manufacturing facilities.