Indian Auto Sector Sees 20% Sales Growth At 23,62,534 Units In October 2023

The Society of Indian Automobile Manufacturers (SIAM) has released the industry’s collective monthly sales data for October 2023. Last month 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. This included sales of passenger vehicles, two-wheelers, three-wheelers and quadricycles.

Also Read: India’s Total Vehicle Retail Drops 8% YoY In October 2023

In October 2023, total passenger vehicle sales stood at 3,89,714 units, a growth of almost 16 per cent YoY

Commenting on the October 2023 performance, Rajesh Menon, Director General, SIAM said, “Passenger Vehicles posted the highest ever sales of October of 3.90 Lakh units, with a growth of 15.9 per cent, compared to last year. Three-Wheelers also reported a decent growth of 42.1 per cent, posting sales of about 0.77 lakh units in October 2023. 18.96 Lakh Units of Two-Wheelers were sold in October 2023, with a growth of 20.1 per cent, as compared to October 2022.”

In October 2023, total passenger vehicle sales stood at 3,89,714 units, a growth of almost 16 per cent compared to 3,36,330 vehicles sold during the same month last year. On the other hand, two-wheeler sales for the period touched 18,95,799 units, which is a rise of over 20 per cent as against 15,78,383 two-wheelers sold in October 2022.

Also Read: Tata Motors Domestic Sales Grows By 6 Per Cent In October 2023

Last month, three-wheeler sales touched 76,940 units, a growth of over 42 per cent compared to 54,154 three-wheelers sold in October 2022. While Quadricycle sales grew 14 per cent at 81 units, compared to 71 units sold during the same month in 2022.

Two-wheeler sales for the period touched 18,95,799 units, which is a rise of over 20 per cent YoY

Commenting on sales data of October 2023, Vinod Aggarwal, President, SIAM said, “Both Passenger Vehicles and Three-Wheelers have posted highest ever sales of October, while the Two-Wheeler segment has also posted good sales in the month of October 2023. All three segments have posted double-digit growth. This growth momentum is encouraging for the industry which has been enabled by sustained conducive policies of the Government and the ongoing festive season.”

As for total vehicle production, the combined units of passenger vehicles, three-wheelers, two wheelers, and quadricycle produced in October 2023 was 26,21,248. However, it must be noted that production numbers of BMW India, Mercedes-Benz India, JLR India, Tata Motors and Volvo Auto data are not included in this data.