Total domestic annual sales of vehicles (Passenger Vehicle + 3Wheeler + 2Wheeler + Commercial Vehicle + Quadricycle) in 2023 were up 10% to 2,28,36,604 units compared to 2,07,92,824 units in 2022, the Society of Automobile Manufacturers (SIAM) said on Friday.
According to the SIAM data, total passenger vehicle sales in December 2023 were at 2,86,390 units, a 5% increase from 2,75,352 units in December 2022. Two wheelers saw an increase of 16% with 12,11,966 units sold in December 2023 when compared to 10,45,052 units sold in 2022. Three Wheelers saw a growth of 31% with 50,537 units sold in December 2023 as compared to 38,693 units sold in 2022.
The quarterly (Oct-Dec) performance recorded a 20% increase in total sales (including PV+CV+3W+2W+Quadricycle) with 61,65,997 units sold in 2023 when compared to 51,60,445 units sold in 2022.
Overall Financial Year sales (April-December) grew at 11% with 1,77,80,852 units (including PV+CV+3W+2W+Quadricycle) sold in 2023, as compared to 1,61,49,094 units in 2022.
Commenting on sales data of 2023 calendar year, Mr Vinod Aggarwal, President, SIAMsaid, “Year 2023 has been reasonably satisfactory for the Automobile Sector, as Passenger Vehicles, Commercial Vehicles and Two Wheelers have posted single digit growth, while three-wheelers have made a very good recovery. Various schemes of Government of India that have been operational now, are showing good results, and is also helping the Auto Industry to seamlessly transform to new powertrain realms. Auto Industry is optimistic that the growth momentum would continue in year 2024 as well.”
Commenting on Q3 sales data, Mr Rajesh Menon, Director General, SIAM said, “In Q3 of FY 2023-24, Passenger Vehicles grew by 8.3%, Commercial Vehicles by 3.5%, Three-Wheelers by 35.2% and Two-Wheelers by 22.6% compared to last year. Passenger Vehicle and Three-Wheeler segments posted their highest Q3 Sales ever, while Passenger Vehicles even crossed the 4 million marks for the first time, in a calendar year.”
