Automotive Surge: Record Passenger Vehicle Dispatches in May

Automakers dispatched over 3.47 lakh passenger vehicles to dealers in May, marking a 4% year-on-year growth. Maruti Suzuki, Hyundai, and Mahindra & Mahindra witnessed significant unit sales. The industry remains optimistic about steady growth, driven by robust utility vehicle demand and positive economic expectations for 2024-25.

Automakers dispatched an impressive 3.47 lakh passenger vehicles to domestic dealers in May, registering a year-on-year increase of 4%, the Society of Indian Automobile Manufacturers (SIAM) reported on Tuesday.

Passenger vehicle dispatches hit 3,47,492 units last month, up from 3,34,537 units in May 2023. This marks the highest-ever May dispatches, fueled by strong utility vehicle sales.

Leading automaker Maruti Suzuki sold 1,44,002 units in May, marginally up from 1,43,708 units a year ago. Hyundai Motor India followed with 49,151 units sold, an increase from 48,601 units in May 2023. Mahindra & Mahindra saw substantial growth, dispatching 43,218 units compared to 32,886 units last year.