About 3.59 Lakh Passenger Vehicles Sold In August 2023: SIAM

In August 2023, the Indian automobile industry experienced a modest growth of 3.63 per cent, according to data released by the Society of Indian Automobile Manufacturers (SIAM). The sale of passenger vehicles for the month reached 3,13,715 units, marking an 11.56 per cent increase from August 2022. However, exports for the same month declined by 5.41 per cent compared to August 2022, with 3,80,876 units exported.

Vinod Aggarwal, President, SIAM said, “Last month saw the highest ever August month sales for Passenger Vehicles and Three-Wheelers, while Two-Wheeler sales remained at levels similar to a year ago. We have also observed good growth in the Commercial Vehicle segment in August 2023.

In August 2023, two-wheeler sales saw a marginal growth of 0.59 per cent, with 15,66,594 units sold, compared to the same month in 2022. The three-wheeler segment experienced a significant growth of 68.79 per cent, with 64,763 units sold in August 2023, compared to 38,369 units in August 2022. Overall, domestic sales for August 2023 reached 19,45,182 units, a 3.63 per cent increase from August 2022.

Rajesh Menon, Director General, SIAM said, “3.59 lakh units of Passenger Vehicles were sold in the month of August, with a growth of 9.40% compared to August 2022. Three-Wheelers also reported a significant growth of 68.79%, posting sales of about 0.65 lakh units in August 2023. 15.67 Lakh Two-Wheelers were sold last month in the country, with a growth of 0.59% compared to August 2022.”

When considering the April-August 2023 period, the industry sold 16,12,210 passenger vehicles, indicating an 8.52 per cent growth compared to the same period in 2022. Two-wheeler sales during this period reached 69,89,612 units, showing a 4.9 per cent growth from April-August 2022.