The Indian automobile industry faced a substantial slowdown in the second quarter of FY25, with notable declines in the sales of passenger cars, goods carriers, and light commercial vehicles, as per the latest data released by the Society of Indian Automobile Manufacturers (SIAM) on Monday.
Passenger Car Sales Drop by 20%
The sales of passenger cars experienced a significant year-on-year (Y-o-Y) decline of around 20% in the July-September quarter. A total of 3,18,805 passenger cars were sold during this period, compared to 3,96,498 units in the same quarter last year. This downturn reflects the challenging market conditions faced by automakers in the country.
The slowdown extended beyond passenger cars, with the sales of goods carriers falling by 15.8% in Q2 FY25. A total of 69,514 goods carriers were sold, compared to 82,538 units during the same period last year.
Light commercial vehicles (LCVs) also saw a notable dip, with sales dropping by 10.2% compared to the previous year. Between July and September, 1,26,370 LCVs were sold, down from 1,53,927 units in Q2 FY24.
While the passenger car and commercial vehicle segments struggled, two-wheelers displayed positive growth. Scooter sales increased by 16.9% in the second quarter, with 18.32 lakh units sold, up from 15.67 lakh units in the same period last year. Motorcycle sales also showed an upward trend, growing by 10.2% to 32.09 lakh units, compared to 29.13 lakh units in Q2 FY24.
Sharp Decline in Electric Rickshaw Sales
In contrast to the growth in the two-wheeler segment, the electric rickshaw (E-rickshaw) market saw a sharp decline in sales. The segment recorded a 30.7% drop, with only 7,227 units sold, down from 10,430 units in the corresponding quarter of last year.
The Q2 FY25 sales data from SIAM paints a mixed picture of the Indian automobile market. While key segments such as passenger cars and commercial vehicles faced significant declines, the two-wheeler market showed resilience, particularly in scooters and motorcycles. The contrasting trends highlight the challenges and opportunities facing the auto sector during the current fiscal year.
