Mixed Trends in May: Indian Auto Sector's Steady Performance

Domestic passenger vehicle wholesales saw a minor decrease of 0.8 percent in May, totaling 3,44,656 units compared to 3,47,492 units the previous year. This data, shared by the Society of Indian Automobile Manufacturers (SIAM), reflects stable performance across vehicle categories.

Manufacturer dispatches of two-wheelers to dealers grew by 2.2 percent, hitting 16,55,927 units compared to 16,20,084 units last year, according to SIAM's latest report. Overall vehicle wholesales, incorporating all categories, rose by 1.8 percent to reach 20,12,969 units, up from 19,76,674 units in May last year.

SIAM Director General Rajesh Menon commented on this performance, noting the minor drop in the Passenger Vehicles segment but highlighting the robust second-highest ever sales figure for May. He attributed potential future sector growth to recent repo rate cuts and promising monsoon forecasts, which may enhance affordability and consumer sentiment.

(With inputs from agencies.)