Automakers Record First Quarter of Sales Decline Since FY23

Sales of big SUVs have continued to grow at the expense of smaller hatchbacks and sedans

- Ayaan Kartik & Nehal Chaliawala

India's auto industry has hit its first sales roadblock in over two years. According to the data from the Society of Indian Automobile Manufacturers (Siam), wholesale dispatches in the April-June quarter fell 5% year-on-year, marking the first quarterly decline since FY23.

Automakers sold just over 6 million units—including cars, two-wheelers, three-wheelers, trucks, and buses—to their distributors during the quarter. While certain segments have seen sporadic declines over recent quarters, this is the first time overall industry volumes have dipped after showing consistent growth since FY23.