The Indian auto industry had its best June ever, selling 2,557,234 units last month, marking a strong 21.83% year-on-year growth and a 1.03% increase from May. Passenger vehicle sales were exceptional at 410,853 units, up 28.63% annually and 2.05% monthly, with rural areas showing higher growth than urban regions.
PV alternative-fuel vehicles, including CNG, Hybrid, and EVs, surpassed 40% market share for the first time, reaching 40.35%, with EV sales hitting an all-time high of 31,823 units. Two-wheeler sales reached 1,828,458 units, up 21.22% year-on-year, with a notable increase in EV sales, now at 10.60% compared to 7.34% last year.
Commercial vehicle sales totaled 90,972 units, marking a 16.88% yearly growth and the best June on record, especially driven by rural demand. Three-wheelers and tractors also saw significant growth, with three-wheelers hitting their best June ever at 120,889 units and tractors growing by 25.31% year-on-year.
Looking forward, dealers are optimistic, with over half expecting growth, while others foresee a stable market. Factors such as monsoon performance, Kharif sowing progress, and stable supplies post West Asia ceasefire and declining crude prices are key considerations for future industry performance.
