India sees rise in domestic passenger vehicle sales in Dec 2023; here’s what you should know

Domestic passenger vehicle wholesales grew by 4 per cent last month, the Society of Indian Automobile Manufacturers (SIAM) said on Friday.

As per a SIAM report, 2,86,390 passenger vehicles were sold in the month of December which marked a 4% Year on Year (YoY) compared to the 2,75,352 passenger vehicles sold in December 2022. However, the number was still short of the 3,34,130 units sold in the month of November 2023.

While giving insights into the new data, SIAM Director General Rajesh Menon said, “In Q3 of FY 2023-24, passenger vehicles grew by 8.3 per cent, commercial vehicles by 3.5 per cent, three-wheelers by 35.2 per cent and two-wheelers by 22.6 per cent compared to last year. Passenger vehicle and three-wheeler segments posted their highest Q3 sales ever, while passenger vehicles even crossed the 4 million mark for the first time in a calendar year."

Two-wheeler domestic wholesales stood at 12,11,966 units last month as against 10,45,052 units in December 2022, a growth of 16 per cent.

Similarly, three-wheeler wholesales were higher at 50,537 units last month as compared to 38,693 units in December 2022.

Moreover, tractor sales and Commercial Vehicle (CV) sales increased by 0.2 per cent and 1.3 per cent respectively. The commercial vehicle sales for December were recorded at 9,78,835 units.