Enter your city for weather info

Invalid City Name

rain icon
Temperature 22°C
Status Clear
City New York
4-Day Forecast
Humidity icon

50%

Humidity

wind icon

15 km/h

Wind Speed

Daily Panchang

Please Enter OTP For Tractor Price कृपया ट्रैक्टर की कीमत के लिए ओटीपी दर्ज करें
Enquiry icon
Enquiry Form

Retail Auto Sales Record 2.6% Growth in May 2024: Mixed Performance Across Vehicle Segments

Retail Auto Sales Record 2.6% Growth in May 2024: Mixed Performance Across Vehicle Segments

    Retail Auto Sales Record 2.6% Growth in May 2024: Mixed Performance Across Vehicle Segments

10 Jun, 2024

The Indian auto sector has set the course for positive YoY growth for May 2024 by gaining a jump of 2.61%. This indicates the industry’s resilience in the face of ongoing challenges such as supply chain and political unrest. 

A Closer Look at Category-Wise Performance

Let’s review the total sales trends and performance of the Indian auto industry to understand its progress in a detailed manner. 

Two-Wheeler Category Records 2.5 % Growth 

The two-wheeler auto category records a total retail sale of 15,34,856 units in May 2024 against the 14,97,778 units sold in May 2023. While  this category recorded 2.48% YoY growth, it registered a 6.61% decline on an MoM basis as the total 2W category in April was 16,43,510 units

Positive rural demand due to good monsoon worked in the favor of this industry. 

Three-Wheelers Category Emerged as a Steady Performer

The three-wheeler category, which includes goods, passenger, personal, e-rickshaws, and e-rickshaws(carts), sold 98,265 units in May 2024, against the 81,825 units sold in May 2023. This way, this category recorded the highest YoY growth of 20.09%. It even showed MoM growth of 22.67%.

Out of all the included sub-categories, e-rickshaw with cart(G) demonstrated the highest YoY growth of 76.90% and MoM growth of 30.95% with total sales of 5,530 units in May 2024. 

Passenger Vehicle Category Went Down by 0.96% 

With total retail sales of 3,03,358 units sold in May 2024 against the 3,06,305 units sold in May 2023, the PV or passenger vehicle category recorded a 0.96% YoY drop. It even declined by 9.48% on a MoM basis. Multiple factors such as a disturbed supply chain, Lok Sabha elections, and excessive heat kept the demand low. 

All India Vehicle Retail Data for May'24
CATEGORY May'24 May'23 YoY%
2W 15,34,856 14,97,778 2.48%
3W 98,265  81,825  20.09%
E-RICKSHAW(P) 39,505 36,607 7.92%
E-RICKSHAW WITH CART (G) 5,530 3,126  76.90%
THREE-WHEELER (GOODS) 9,927 8,236 20.53%
THREE-WHEELER (PASSENGER) 43,224 33,792 27.91%
THREE-WHEELER (PERSONAL) 79 64 23.44%
PV 3,03,358  3,06,305 -0.96%
TRAC 70,065  70,813 -1.06%
CV 83,059 79,807  4.07%
LCV 45,712 42,351  7.94%
MCV 6,871 6,229 10.31%
HCV 26,306 27,184 -3.23%
Others 4,170 4,043 3.14%
Total 20,89,603 20,36,528 2.61%

Tractors Category Demonstrated 1.06% YoY Decline 

The tractor category sold 70,065 units during May 2024 whereas it recorded a sale of 70,813 units in May 2023, resulting in a 1.06% YoY drop. However, the tractor category recorded an impressive growth of 23.74% on a MoM basis.

Commercial Vehicles Category Grew by 4.07% 

The commercial vehicle category, which includes buses, trucks, and other commercial vehicles, sold 83,059 units in May 2024, against the 79,807 units sold in May 2023. This results in 4.07% YoY growth. 

A Comprehensive Growth Analysis of Total Retail Auto Sales 

The total auto sales for May 2024 stood at the mark of 20,89,603 units against the 20,36,528 units sold in May 2023, marking a 2.61% YoY growth Categories such as two-wheeler, three-wheeler, and commercial marked as the highest growth experiencing categories whereas categories such as tractor and passenger vehicle recorded a slight drop.

Disclaimer:

1- The above numbers do not have figures from TS & LD.

2- Vehicle Retail Data has been collated as on 06.06.24 in collaboration with Ministry of Road Transport & Highways,Government of India and has been gathered from 1,360 out of 1,503 RTOs.

3- Commercial Vehicle is subdivided in the following manner

a. LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)

b. MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)

c. HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)

d. Others – Construction Equipment Vehicles and others

4- 3-Wheeler is sub-divided in the following manner

a. E-Rickshaw – Passenger

b. E-Rickshaw – Goods

c. 3-Wheeler – Goods

d. 3-Wheeler – Passenger

e. 3-Wheeler – Personal

https://images.tractorgyan.com/uploads/113318/6662a58d4f246-arecanut-supari-tree-farming-in-india.jpg Areca Nut (Supari Tree) Farming in India: From Planting to Harvest
Areca nut, also known as betel nut or supari, is a major plantation crop in India. This guide covers everything you need to know about Areca nut farmi...
https://images.tractorgyan.com/uploads/113379/6666921871c67-retail-tractor-sales-in-may-2024.jpg Retail Tractor Sales Register 1.05% Decline in May 2024, Sold 70,065 Tractors
FADA's May 2024 retail tractor sales report highlights Mahindra & Mahindra as the top seller with a 22.73% market share, showing slight growth from Ma...
https://images.tractorgyan.com/uploads/113380/6666944472756-retail-tractor-sales-report-for-may-2024.jpg मई 2024 में भारतीय रिटेल ट्रैक्टर सेल्स में 1% की गिरावट, बिचे 70,000 हज़ार से ज्यादा ट्रैक्टर!
फेडरेशन ऑफ ऑटोमोबाइल डीलर्स एसोसिएशन (FADA) की मई 2024 की रिपोर्ट में ट्रैक्टर बिक्री के आंकड़े जारी किए गए है। महिंद्रा एंड महिंद्रा, सोनालीका, और स्...

Top searching blogs about Tractors and Agriculture

Top 10 Tractor brands in india To 10 Agro Based Indutries in India
Rabi Crops and Zaid Crops seasons in India Commercial Farming
DBT agriculture Traditional and Modern Farming
Top 9 mileage tractor in India Top 5 tractor tyres brands
Top 11 agriculture states in India top 13 powerful tractors in india
Tractor Subsidy in India Top 10 tractors under 5 Lakhs
Top 12 agriculture tools in India 40 Hp-50 Hp Tractors in India

review Write Comment About Blog.

Enter your review about the blog through the form below.



Customer Reviews

Record Not Found

Popular Posts

https://images.tractorgyan.com/uploads/113823/6692222f0f3c2-vst-zetor-introduced-tractors-in gujarat.jpg

VST Zetor Introduced Tractors in Gujarat

12 July 2024: VST Zetor range of tractors, jointly developed by VST Tillers Tractors Ltd and HT...

https://images.tractorgyan.com/uploads/113822/66920cf68353f-mahindra-vs-sonalika-the-new-battleground-in-global-tractor-markets.jpg

Mahindra vs Sonalika: The New Battleground in Global Tractor Markets

Mahindra Tractors is the world’s largest tractor manufacturer and the top tractor-selling bran...

https://images.tractorgyan.com/uploads/113807/668fbfe494c32-harvester-retail-sales-report-in-june-2024.jpg

जून 2024 में हार्वेस्टर रिटेल बिक्री: जानिए ब्रांड प्रदर्शन और मासिक वृद्धि के बारे में

ट्रैक्टर के अलावा, हार्वेस्टर भारत में बड़ी मात्रा में बिकने वाला कृषि उपकरण है। आज हम आपके लिए...

Select Language

tractorgyan offeringsTractorGyan Offerings