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PVS, 3 WHEELERS IN TOP GEAR WITH HIGHEST EVER SALES IN OCTOBER
The Business Guardian
|November 12, 2023
A sustained high festive sentiment in India drove India's automobile wholesales in October 2023 to 23,62,534 units, with passenger vehicles and three-wheelers recording double-digit growth last month.
Passenger vehicles mustered dispatches of 389,714 units, a y-o-y growth of 15.87 per cent which is the highest-ever sales of October. Three-wheelers displayed the best-ever October performance with sales of 76,940 units in October 2023, a y-o-y growth of 42.07 per cent, the Society of Indian Automobile Manufacturers (SIAM), said on Friday.
The SIAM data shows the two-wheeler segment continuing to show improvement with 18,95,799 units sold, which was higher by 20.11 per cent y-o-y. The total production of PVs, three-wheelers, two-wheelers, and quadricycle in October 2023 was 26,21,248 units. The auto sector's total sales stood at 23,62,534 units, a year-on-year growth of 20 per cent compared to 19,68,938 units sold in October 2022. Vinod Aggarwal, President, SIAM credits the encouraging growth momentum for the industry to sustain conducive policies of the Government and the ongoing festive season.
This story is from the November 12, 2023 edition of The Business Guardian.
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