The combined production of Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycles in October 2023 attained a total of 26,21,248 units. Remarkably, the Passenger Vehicle segment achieved an impressive year-on-year (YoY) growth of 15.9%, setting a record, the Society of Indian Automobile Manufacturers (SIAM), said.
The domestic sales figures for October 2023 in detail: Passenger Vehicle sales – 389,714 units; Three-wheelers – 76,940 units; and Two-wheelers – 1,895,799 units.
Commenting on sales data of October 2023, Mr Vinod Aggarwal, President, SIAM said, “both Passenger Vehicles and Three-Wheelers have posted highest ever sales of October, while Two-Wheeler segment has also posted good sales in the month of October 2023. All the three segments have posted double-digit growth. This growth momentum is encouraging for the industry which has been enabled by sustained conducive policies of the Government and the ongoing festive season.”
Commenting on October 2023 performance, Mr Rajesh Menon, Director General, SIAM said, “Passenger Vehicles posted the highest ever sales of October of 3.90 Lakh units, with a growth of 15.9%, compared to last year. Three-Wheelers also reported a decent growth of 42.1%, posting sales of about 0.77 lakh units in October 2023. 18.96 Lakh Units of Two-Wheelers were sold in October 2023, with a growth of 20.1%, as compared to October 2022.”
SIAM disclosed a sharp decline in the sales of entry-level cars, dipping by 75% to 35,000 units over the three months ended in September compared to the previous year earlier in October. Similarly, sales of motorcycles and scooters, commonly preferred in villages for their affordability, experienced declines of 39% and 25%, respectively, SIAM said.
