Passenger vehicle segment see highest growth compared to previous year.

July 12, 2023
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New Delhi July 12, 2023: The Society of Indian Automobile Manufacturers released the monthly performance data for June 2023. The total production of Passenger Vehicles-Three Wheelers, Two Wheelers, and Quadricycle in June 2023 was 20,24,703 units.

Domestic Sales:

• Passenger Vehicle sales were 3,27,487 units in June 2023.

• Three-wheeler sales were 53,019 units in June 2023

• Two-wheeler sales were 13,30,826 units in June 2023.

Performance: April-June 2023

Production: The total production of Passenger Vehicles3, Commercial Vehicles4, Three Wheelers, Two Wheelers, and Quadricycle in April-June 2023 was 65,03,626 units

Domestic Sales:

• Passenger Vehicles3 sales were 9,95,974 units in April-June 2023.

• Commercial Vehicles4 sales were 2,17,046 units in April-June 2023.

• Three-wheeler sales were 1,44,475 units in April-June 2023.• Two-wheeler sales were 41,40,964 units in April-June 2023

Commenting on sales data of Q1 for 2023-24, Mr Vinod Aggarwal, President, SIAM said, “In the quarter, the Auto Industry seamlessly transited to the very stringent BS 6 Phase 2 Emission Norms from 1st April 2023, reflecting the commitment of the Industry towards the environment. Overall Passenger Vehicles, Two-Wheelers, Three-Wheelers and Commercial Vehicles have performed well in Q1 of 2023-24, although some sub-segments have shown slight momentary decline, compared to Q1 of last year. With expectations of a reasonable Monsoon, which has now covered most parts of the country, coupled with lowering inflation, we expect the economy to continue to grow, which in turn should help the Auto Sector. High interest rates remain a concern.”

Commenting on the Q1 2023-24 performance, Mr Rajesh Menon, Director General, SIAM said, “Sales of Passenger Vehicles in Q1 of Apr-June 2023 has been the highest ever with a growth of 9.4%, compared to the previous year. The Passenger Vehicle segment crossed 2 million units in the first half of Calendar year for the first time. Two-Wheelers also posted a growth of 11.2% in this Quarter, compared to last year, but are still lower than 2016-17 levels. Domestic sales of Three-Wheelers in Q1 of 2023-24 grew by 89.4% compared to last year albeit on a low base, but are still lower than the 2018-19 levels. Commercial Vehicles have de-grown by (-)3.3% in this Quarter, compared to Q1 of last financial year.”

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