India's auto industry sees steady growth in July 2024: SIAM
Mumbai: India's automobile sector recorded a robust performance in July 2024, driven by strong domestic sales and exports across all vehicle categories.
According to data from the Society of Indian Automobile Manufacturers (SIAM), the total production of vehicles rose to 24.37 lakh units, up from 20.87 lakh units in July 2023.
Passenger vehicles saw a slight increase with 3.98 lakh units produced in July 2024 compared to 3.93 lakh in the same period last year.
Maruti Suzuki maintained its leadership position, with nearly 1.83 lakh units produced in July.
Hyundai followed with over 72,000 units, while Mahindra produced more than 43,000 units.
Three-wheelers production also grew, with over 90,000 units produced in July 2024, compared to 85,000 units a year earlier.
Bajaj Auto led this category, manufacturing 61,583 units, while TVS Motor contributed over 14,000 units.
In the two-wheeler segment, production surged to 19.48 lakh units in July 2024, up from 16.08 lakh units in July 2023.
Hero MotoCorp led the segment with 4.23 lakh units produced, followed by Honda Motorcycle and Scooter India with 5.41 lakh units.
Exports also remained strong, with total shipments reaching 4.15 lakh units across all categories, compared to 3.88 lakh units in July 2023.
The two-wheeler segment contributed the most, with over 3.25 lakh units exported during the month.
Overall, the industry's cumulative performance from April to July 2024 showed significant growth, with total production reaching 97.36 lakh units, a substantial increase from 83.38 lakh units in the same period of 2023
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