Passenger Vehicle sales decline by 2% to 3.5 lakh units in August 2024

Amid surging inventory levels at dealership outlets, Passenger Vehicle (PV) wholesales saw a drop of 2.32 percent at 3,52,500 units last month.

The total number of dispatches by carmakers during August last year stood at 3,60,897 units.

 This is the second consecutive decline in car wholesales this fiscal after July 2024 (down by 2.5 percent at 3,44,076 units).

While carmakers were cutting down dispatches to match retail numbers, the high base effect of last year also resulted in degrowth in PV volumes in August 2024.

 However, industry players reckoned that the Year-on-Year sales figures are not comparable as the festive season came in early during August last year.

Maruti Suzuki India Limited’s total domestic passenger vehicle wholesales were at 1,43,075 units last month as compared with 1,56,114 units in the year-ago month, a dip of 8 per cent.

According to Partho Banerjee, Senior Executive Officer, Marketing and Sales, MSIL, the market is more or less the same as the last year.