Passenger Vehicle Sales Increase By 26.73 Per Cent During April 2022- March 2023: SIAM Report

The Society of Indian Automobile Manufacturers (SIAM) today revealed the sales report for FY2022-23 as well as the industry performance in March 2023. During the April-March 2023 period, the passenger vehicle segment saw a growth of 26.73 per cent, registering 38,90,114 units as compared to 30,69,523 units in April-March 2022. In March 2023, PV sales grew marginally by 4.47 per cent, recording 2,92,030 units as compared to 2,79,525 units in March 2022. Overall, the Indian automobile industry sold 2,12,04,162 units in the April–March 2023 period as compared to 1,76,17,606 units, registering a growth of 20.36 per cent during April–March 2022.

In March 2023, the total domestic sales stood at 16,37,048 as compared to 15,10,534 units sold in March 2022, registering a hike of 8.38 per cent. The total number of passenger vehicles sold in March 2023 was 2,92,030 units as compared to 2,79,525 units, a growth of 4.47 per cent. Speaking simply about the passenger cars, the industry sold 1,22,133 units as compared to 1,38,014 units, registering a decline of 11.51 per cent, and this was largely due to the low sales in the entry-level segment, according to SIAM. The Utility Vehicle (UV) segment also saw a decent increase of 19.54 per cent, registering 1,57,881 units in March 2023 as compared to 1,32,073 units sold in March 2022.

Coming to the three-wheeler segment, the total sales generated during March 2023 was 54,360 units in March 2023 as compared to 32,135 units in March 2022, recording a healthy growth of 69.16 per cent. Then there is the two-wheeler segment, selling 12,90,553 units in March 2023 as compared to 11,98,825 units sold in the same period last year, recording a growth of 7.656 per cent.