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The automobile industry body -- Society of Indian Automobile Manufacturers (SIAM) in its latest data has showed that India’s passenger vehicles (PV) wholesales rose 1.3 per cent year-on-year to 3,35,629 units in April 2024 as compared to PV dispatches of 3,31,278 units from companies to dealers in April 2023. It said PV wholesales in India rose to record levels in April driven by strong demand for utility vehicles.
As per the data, two-wheeler wholesales rose 31 per cent to 17,51,393 units last month, as compared to 13,38,588 units in April last year. Three-wheeler wholesales rose 14.5 per cent to 49,116 units last month, as against 42,885 units in April 2023. Utility vehicle sales stood at 1,79,329 units last month, up 21 per cent from 1,48,005 units in the same month last year. Passenger car dispatches, however, declined by 23 per cent to 96,357 units, as compared to 1,25,758 units in April 2023.
Van sales rose 15 per cent to 12,060 units last month, as against 10,508 units in April last year. Motorcycle wholesales stood at 11,28,192 units last month, up 34 per cent, as compared to 8,39,274 units in the same month last year. Scooter wholesales rose 25 per cent year-on-year to 5,81,277 units in April, as compared to 4,64,389 units in the same month last year. Three-wheeler wholesales rose 14.5 per cent to 49,116 units last month, as against 42,885 units in April 2023.
SIAM President Vinod Aggarwal said the current fiscal has started on a reasonably good note for the auto industry, as all the segments have posted growth in April 2024, compared to April 2023, driven by positive consumer sentiments and festivities during the month. He added ‘Above normal monsoon rainfall, policy continuity post-elections and government's push on manufacturing and infrastructure would propel the overall economic growth which would help in continuing the auto sector's growth trajectory’.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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