Election, heatwave hit passenger vehicle sales

Tribune News Service

Vijay C Roy

Chandigarh, July 1

Passenger vehicle wholesales in June largely remain subdued in the domestic market, on account of high base of last year, the General Election and heatwave. Like previous months, the growth has been led by utility vehicle segment.

Experts believe sales in the passenger vehicle (PV) market are projected to slow down to 3-6 per cent in FY25 on a higher base of three years.

While Maruti’s passenger car sales declined by 8 per cent, the utility vehicle segment sales grew by 21 per cent and touched 52,373 units.

Hyundai Motor India Limited (HMIL), registered total domestic sales of 50,103 units in June 2024, thus registering a growth of 0.20 per cent.

Tata Motors logged total sales of 43,524 units in the domestic market in June, as against 47,235 units in the corresponding period a year ago.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, said: “In Q1 FY25, after a boost in demand in the first half of April, due to festivities in some parts of country, the passenger vehicle industry saw a decline in retails (registrations) in May and June, influenced by the General Election and heat waves.”

Also, Toyota Kirloskar Motor said it recorded a growth of 40% in June by selling 27,474 units.

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