Automobile Domestic Sales Witness Overall Growth Of 20% In 2022-23

The total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles in March 2023 was 20,04,592 units. The passenger vehicle, three-wheeler sales and two-wheeler sales were 2,92,030 units, 54,360 units and 12,90,553 units in March 2023.

Commenting on sales data of 2022-23, Vinod Aggarwal, President, SIAM said, “2022-23 has been a year of consolidation, post-Covid. The year started again with supply chain disruptions from Ukraine conflict. However with efficient management of supply chains and better availability of commodities especially for the electronics items, prices have moderated over the year, though it remains a concern. Passenger Vehicle segment posted the highest-ever domestic sales surpassing the previous peak in 2018-19. Commercial vehicles posted the 2nd highest domestic sales and is close to the previous peak of 2018-19. Inspite of good growth in domestic sales in three-wheelers, they are still below the 2010-11 levels and the Two- Wheelers domestic sales are still below the 2014-15 levels. Favourable Policy initiatives ranging from impact of new PLI Schemes, encouraging announcements in Budget, forward looking Logistic & Foreign Trade Polices and recently announced Gas pricing Guidelines would go a long way in supporting the growth of the Industry.”

The total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles in January - March 2023 was 60,94,960 units. The passenger vehicle, commercial vehicle, three-wheeler sales and two-wheeler sales were 10,18,355 units, 2,78,878 units, 1,53,645 units and  36,04,593 units in January – March 2023.

Commenting on the 2022-23 performance, Rajesh Menon, Director General, SIAM said, “With growth in overall automobile domestic sales of 20 per cent in 2022-23, the industry recorded highest passenger vehicle sales with an annual growth of 27 per cent. Commercial Vehicles and Three-Wheelers posted growth of 34 per cent and 87 per cent respectively, driven by higher off-take of Passenger Carriers. The Two-wheelers segment grew by a moderate 17 per cent, after witnessing de-growth for the previous three consecutive years. These segments are yet to reach the pre-pandemic levels.”

The total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles in April - March 2023 was 2,59,31,867 units. The passenger vehicle, commercial vehicle, three-wheeler sales and two-wheeler sales were 38,90,114 units, 9,62,468 units, 4,88,768 units and 1,58,62,087 units in April – March 2023.