Domestic vehicle sales improved in June 2023 compared to June 2022 and this shows that the Indian Auto Industry seamlessly shifted to the very stringent BS VI Phase II Emission Norms, the Society of Indian Automobile Manufacturers (SIAM) said.
Commenting on sales data of Q1 for 2023-24, Mr Vinod Aggarwal, President, SIAM said, “In the quarter, the Auto Industry seamlessly transited to the very stringent BS 6 Phase 2 Emission Norms from 1st April 2023, reflecting the commitment of the industry towards the environment. Overall Passenger Vehicles, Two-Wheelers, Three-Wheelers, and Commercial Vehicles have performed well in Q1 of 2023-24, although some sub-segments have shown slight momentary decline, compared to Q1 of last year. With expectations of a reasonable Monsoon, which has now covered most parts of the country, coupled with lowering inflation, we expect the economy to continue to grow, which in turn should help the Auto Sector. High interest rates remain a concern.”
Mr Rajesh Menon, Director General, SIAM said, “Sales of Passenger Vehicles in Q1 of Apr-June 2023 has been the highest ever with a growth of 9.4%, compared to the previous year. The Passenger Vehicle segment crossed 2 million units in the first half of Calendar year for the first time. Two-Wheelers also posted a growth of 11.2% in this Quarter, compared to last year, but are still lower than 2016-17 levels. Domestic sales of Three-Wheelers in Q1 of 2023-24 grew by 89.4% compared to last year albeit on a low base but are still lower than the 2018-19 levels. Commercial Vehicles have de-grown by (-)3.3% in this Quarter, compared to Q1 of last financial year.”
The monthly domestic sales of passenger vehicles in June 2023 stood at 3,27,487 units compared to 3,20,985 units during the same month last year.
In the three-wheeler category, all the segments ended in green. The total domestic three-wheeler sales for the month stood at 53,019 units, compared to 26,701 units during the same month last year. Passenger carriers grew at an enormous rate with 41,090 units sold compared to the 17,934 units during the same period last year. Sales of goods carriers grew to 8,797 units. E-rickshaw sales stood at 2,655 units and e-carts at 477 units.
The sales of two-wheelers also grew significantly with total domestic sales of 13,30,826 units during the month. Segment wise total units of scooters sold was at 3,87,373 compared to 4,21,362 in the corresponding period last year. Sales of mopeds stood at 34,499 units and motorcycles at 9,08,954 units. The sales of quadricycles were recorded at 47 units.
