Auto Sales June 2023: India Auto Sector’s Overall Volume Grow 3% YoY, At 17,11,379 Units

The Society of Indian Automobile Manufacturers (SIAM) has released the collective sales data for the month of June 2023. Last month, the auto industry collective sold 17,11,379 vehicles, a combined sales output of passenger vehicles, two-wheelers, three-wheelers and quadricycle. Compared to the 16,56,497 vehicles sold in June 2022, the industry collectively saw a growth of over 3 per cent year-on-year.

In June 2023, the total passenger vehicle sales stood at 3,27,487 units, a 2 per cent growth compared to 3,20,985 PVs sold during the same month in 2022. At the same time, total two-wheeler sales in June 2023 reached 13,30,826 units, a marginal 1.6 per cent growth as against the 13,08,764 vehicles sold in June 2022. The three-wheeler sales, on the other hand, nearly doubled in June at 53,019 units. Compared to the 26,701 three-wheelers sold during the same period last year, the segment witnessed a YoY growth of 98.5 per cent.

Also Read: Auto Sales 2023: Top 10 Car Brands In India In June, Maruti Suzuki Retains Top Spot

As for the first quarter of Financial Year 2023-24, between April and June 2023, the industry sold 54,98,602 vehicles, witnessing over 11 per cent growth compared to 49,35,910 vehicles sold during the same period in 2022. Passenger vehicle sales grew 9.4 per cent at 9,95,974 units, while two-wheeler sales went up by 11 per cent at 41,40,964 units. Between April-June 2023, three-wheeler sales also grew 89 per cent, at 1,44,475 units, however, total commercial vehicle sales saw a decline of 3 per cent compared to the same period last year.

Also Read: Maruti Suzuki Sees 2.2% Growth In June 2023; Witnesses 10% Over May 2023

Also Read: Auto Sales June 2023: Suzuki Motorcycle India Registers 80,737 Units of Sale

Commenting on sales data of Q1 for 2023-24, Vinod Aggarwal, President, SIAM said, “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.”