Sale Of Passenger Vehicles Highest Ever In Q1 2023: SIAM

The Society of Indian Automobile Manufacturers (SIAM), announced the sales data for the month of June 2023 as well as the April-June 2023 period. In June 2023, the Indian automobile industry grew by 3.28 per cent, registering domestic cumulative sales of 16,64,144 units as against 16,11,300 units sold in June 2022. The exports, however, were reduced by 26.8 per cent, as it managed to distribute 3,55,814 units in June 2023, as compared to 4,86,111 units in the same period last year.

Vinod Aggarwal, President, SIAM, said, “In the quarter, the auto industry seamlessly transitioned to the very stringent BS 6 Phase 2 emission norms from April 1, 2023, reflecting the commitment of the industry towards the environment. The overall Passenger Vehicles, Two-Wheelers, Three-wheelers, and Commercial Vehicles have performed well in Q1 of 2023–24, although some sub-segments have shown a slight momentary decline, compared to Q1 of last year.”

As for the April-June 2023 period, the Indian automobile industry saw a double-digit increase of 11.4 per cent, as it registered cumulative sales of 54,98,602 units as compared to 49,35,910 units during the April-June 2022 period. The exports subsequently declined by 27.6 per cent, recording 10,32,449 units during April–June 2023, as against 14,25,967 units distributed during the same period last year.

Rajesh Menon, Director General, SIAM said, “The Passenger Vehicle segment crossed 2 million units in the first half of the calendar year for the first time.”

In June 2023, the passenger vehicles (PVs) segment recorded overall sales of 2,80,252 units, as compared to 2,75,788 units in June 2022, a marginal growth of 1.62 per cent. The two-wheeler sales during June 2023, grew by 1.69 per cent, registering 13,30,826 units as against 13,08,764 units sold in the same period last year. The 3-Wheeler segment sold 53,019 units in June 2023, as compared to 26,701 units in June 2022, a hike of 98.57 per cent.

During the April–June 2023 period, the industry recorded cumulative PV sales growth of 9.39 per cent, registering 9,95,974 units as against 9,10,495 units during the April–June 2022 period. The two-wheeler segment sold 41,40,964 units during the April–June 2023 period, as compared to 37,24,533 in the same period last year, a growth of 11.18 per cent. The three-wheeler segment also grew substantially, as it recorded a growth of 89.37 per cent, as it sold 1,44,475 units during the April-June 2023 period, as against 76,293 units sold between April-June 2022.