The three-wheeler segment recorded marginal growth of 0.2%, with 1,88,853 units sold in Q3 FY25 compared to 1,88,434 units in Q3 FY24.The Indian auto industry observed a growth of 3.1% in Q3 of FY25, according to the Society of Indian Automobile Manufacturers (SIAM) report. The sector has performed well, supported by the country's macroeconomic stability, which propelled reasonable growth across vehicle segments.
The passenger vehicle industry recorded the highest year-on-year (Y-o-Y) growth of 4.5% in Q3, with 10,58,145 units sold in 2024 compared to 10,12,285 units in 2023. The two-wheeler industry continued its strong performance, posting 3% Y-o-Y growth with 48,74,590 units sold, compared to 47,31,436 units in Q3 FY24.
In the April-December 2024 period, the overall industry grew by 9.2%, driven mainly by the two-wheeler, three-wheeler, and passenger vehicle segments, although the commercial vehicle segment experienced a decline.
The commercial vehicle industry posted a modest rise of 1.2% in Q3 FY25, with 2,38,050 units sold compared to 2,35,262 units. The three-wheeler segment recorded marginal growth of 0.2%, with 1,88,853 units sold in Q3 FY25 compared to 1,88,434 units in Q3 FY24.
Auto industry’s performance in 2024
In total, the industry registered wholesales of 63,59,647 units in Q3 FY25, compared to 61,67,583 units in the same quarter last year.
Shailesh Chandra, President of SIAM, stated, “2024 has been reasonably good for the auto industry. The stable policy ecosystem of the Government of India in 2024, carried forward from previous years, has helped the industry. As the new year commences with positive sentiment created by the Bharat Mobility Global Expo, this momentum would further propel growth in 2025.”
Rajesh Menon, Director General of SIAM, added, “Passenger vehicles, commercial vehicles, and three-wheelers posted their highest-ever Q3 sales, while two-wheelers achieved their second-highest Q3 sales. Passenger vehicles grew by 4.5% in Q3 of 2024-25, with sales of 1.06 million units. Three-wheelers grew by 0.2%, with sales of 1.89 lakh units. Two-wheelers grew by 3% in this quarter, posting sales of 4.9 million units, while commercial vehicles grew by 1.2% with sales of 2.38 lakh units.”
Mixed performance across segments
The passenger vehicle industry grew 1.8% Y-o-Y in April-December 2024, with 31,39,288 units sold compared to 30,83,245 in FY24. However, the commercial vehicle segment declined by 2.3% Y-o-Y, with 6,83,471 units sold in FY25 compared to 6,99,850 units in FY24. The three-wheeler industry grew by 6.4% with 5,62,652 units sold in FY25, while the two-wheeler segment showcased the highest growth of 11.6% Y-o-Y, with 1,50,39,570 units sold in FY25 compared to 1,34,70,842 in FY24.
“This year’s growth has been primarily driven by the two-wheeler segment, which grew by 14.5% in 2024 compared to the previous year, with sales of 1.95 crore units. Additionally, passenger vehicles and three-wheelers posted their highest-ever annual sales. Passenger vehicles grew by 4.2% in 2024, with sales of around 43 lakh units. Three-wheelers posted growth of 6.8%, with sales of 7.3 lakh units. However, commercial vehicles experienced a slight degrowth of 2.7%, with sales of 9.5 lakh units, though signs of recovery are visible in Q3 FY25,” Chandra added.
