PV Sales Cross 2 Million Units In September 2023: SIAM

In September 2023, the Indian auto industry demonstrated robust performance across various segments. The total production for the month reached an impressive figure of 25,19,105 units, compared to 24,79,288 units produced in September 2022, a growth of 1.61 per cent. In terms of domestic sales for September 2023, the numbers were noteworthy, with passenger vehicles recording sales of 3,16,908 units, compared to 3,07,389 units sold in the same month last year, registering a hike of 3.1 per cent, demonstrating a consistent demand for these vehicles.

Vinod Aggarwal, President, SIAM said, “As we get into the festival season, all industry segments are optimistic and look towards posting good numbers in Q3 as well. This growth in the automobile sector can be attributed to the all-round economic growth of the country, which is also enabled through the conducive Government policies.”

The three-wheelers segment witnessed sales of 74,418 units, a growth of 47 per cent, from 50,626 units sales in September 2022, while the two-wheeler segment continued to be a significant contributor with sales of 17,49,794 units in September 2023, compared to 17,35,199 units from September 2022, registering a nominal growth of 0.84 per cent.

Moving on to the quarterly performance, from July to September 2023, the Indian auto industry sustained its momentum. The total domestic sales during this quarter amounted to 61,16,091 units compared to 60,52,739 units sold from July to September 2022, a surplus of 1.05 per cent. The sale of passenger vehicles during this period stood at 10,74,189 units compared to 10,26,309 units from the same period last year, recording a growth of 4.67 per cent.

Rajesh Menon, Director General, SIAM said, “The passenger vehicle segment crossed 2 million units in sales for the first time, in the first half of the current financial year.”

Domestic sales between April and September 2023 remained strong across various segments. Passenger Vehicles garnered sales of 20,70,163 units, while Commercial Vehicles contributed with 4,65,063 units sold. The three-wheelers and two-wheelers continued to be popular choices among consumers, recording sales figures of 3,39,690 units and 87,39,406 units, respectively.

Overall, the Indian auto industry showcased positive performance in terms of both production and domestic sales across these different time frames. The demand for passenger vehicles and two-wheelers remained steady, contributing significantly to the sector's growth, while the performance of commercial vehicles and three-wheelers also played a notable role in maintaining this positive trajectory.