Passenger vehicle wholesales in India saw an 8.4 per cent increase, reaching 42,18,746 units in the financial year 2023-24, as per SIAM data released on Friday. In FY23, the overall passenger vehicle dispatches were recorded at 38,90,114 units.

Moreover, overall vehicle sales climbed by 12.5 per cent to 2,38,53,463 units in FY24 as against 2,12,04,846 in 2022-23 period.

Two-wheeler sales also surged by 13.3 per cent from 1,58,62,771 units in FY23 to 1,79,74,365 units in the last fiscal year.

In February, passenger car wholesales in India increased 11 per cent year on year as demand in the market was driven by SUVs. About 3,70,786 passenger vehicles were dispatched to dealers overall last month, up from 3,34,790 units during the same period last year.

(More to come)