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Domestic passenger vehicle (PV) wholesales (dispatches to dealers) in October grew 16 per cent year-on-year (YoY) to 3,89,714 units, as compared to 3,36,330 units in the corresponding month last year.
PV sales reached record levels after the sports utility vehicles (SUVs) segment posted historic-high monthly volumes of over two lakh units in October. SUVs accounted for 60 per cent of the total PV industry volumes last month.
According to monthly sales data shared by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also rose by 20 per cent YoY to 18,95,799 units in the month, as compared to 15,78,383 units in October 2022.
Total three-wheeler sales also jumped over 42 per cent YoY to 76,940 units in October, as against 54,154 units in the corresponding month last year.
“Both passenger vehicles and three-wheelers posted their highest ever sales in October, while the two-wheeler segment also posted good sales in the month. All the three segments have posted double-digit growth,” Vinod Aggarwal, President, SIAM said.
Also read: Passenger vehicle sales crosses 2-million mark in H1 2023
This growth momentum is encouraging for the industry, which has been enabled by the government’s conducive policies and the ongoing festive season, he said.
Total vehicle sales across categories grew 20 per cent YoY to 23,62,453 units in October, as compared with 19,68,867 units in the corresponding month last year.
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