Auto Industry Performance of May-2023
City Air News
Jun 13, 2023 02:22
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Monthly Performance: May 2023
Production: The total production of Passenger Vehicles, Three Wheelers, Two Wheelers, and Quadricycle in May 2023 was 21,24,235 units
Domestic Sales:
• Passenger Vehicles2 sales were 3,34,247 units in May 2023.
• Three-wheeler sales were 48,732 units in May 2023
• Two-wheeler sales were 14,71,550 units in May 2023
Commenting on sales data of May 2023, Vinod Aggarwal, President, SIAM said, “All the segments viz. Passenger Vehicles, Two-Wheelers and Three-Wheelers have posted growth in double digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevalent economic environment. The Indian Automobile Industry is currently in a transition phase with new powertrain technologies offered to consumers ranging fromElectrified, Bio-Fuels and Gaseous Fuel driven vehicles which are being enabled through sound policies of the Government.”
Commenting on May-2023 performance, Rajesh Menon, Director General, SIAM said, “Sales of Passenger Vehicles of May 2023 has been the highest ever in May, returning a growth of 13.5%, compared to May 2022. Two-Wheelers also posted a growth of 17.4% in May 2023, compared to last year, but are still lower than 2016-17 levels. Domestic sales of Three-
Wheelers in May 2023 grew by 70.4% compared to May 2022, although on a low base, but is still lower than the 2018-19 levels.”
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