New Delhi, July 15 -- 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 contraction 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.

"Overall sentiments across categories have remained subdued so far, even as the industry continues to navigate supply-side...