SIAM: Indian Auto Sector Sees 3.7 Per Cent Growth In Sales In November 2023

The Society of Indian Automobile Manufacturers (SIAM) has released its wholesale numbers for November 2023, in India. As per SIAM, Passenger Vehicles, Three-wheelers, Two-wheelers and Quadricycles sales were all on a high compared to the same period last year. Total wholesales stood at 20,17,330, up from 15,58,237 units in the same month last year. This represents a year-over-year increase of 23 per cent.

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

Passenger vehicle sales stood at 3,34,130 units, up from 3,22,268 units in November 2022, registering a growth of 3.7 per cent. While passenger car sales saw a dip within the segment, this was propped by utility vehicle sales. The sale of vans also went up by a margin.

Utility vehicle sales soared in November 2023

Total two-wheeler sales, however, amounted to 16,23,399 units registering a significant 31.3 per cent increase compared to November 2022, when it stood at 12,36,282 units. Scooter and motorcycle sales stood at 5,09,119 and 10,70,798 units, up from 4,12,924 and 7,88,893 units respectively. Moped sales also saw an increase, amounting to 43,482, up from 34,465 units.

Three-wheeler sales were also on a high, growing by 30.8 per cent, from 45,664 units in November 2022, to 59,738 units in November, this year. Quadricycles also saw a marginal increase, from 60 to 63.

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

Commenting on November 2023 performance, Mr Rajesh Menon, Director General, SIAM said, “Passenger Vehicles posted the highest ever sales in the month of November 2023 of 3.34 Lakh units, albeit with a growth rate of 3.7%, in the backdrop of a high base last November. Three Wheelers reported significant growth of 30.8%, compared to previous year, posting sales of about 0.60 lakh units in November 2023, just below the peak of November 2017. Two-Wheelers also reported sales of about 16.23 Lakh units with high growth of 31.3%, compared to November 2022 and is also slightly below the peak to November 2018.