The Society of Indian Automobile Manufacturers (SIAM) released the performance data for the Indian automotive industry for the month of June 2023 and the quarter spanning April to June 2023.
In June 2023, the total production of Passenger Vehicles, Three Wheelers, Two Wheelers, and Quadricycle amounted to 20,24,703 units. Domestic sales figures for the same month were as follows:
- Passenger Vehicles: 3,27,487 units
- Three Wheelers: 53,019 units
- Two Wheelers: 13,30,826 units
It is worth noting that data for BMW, Mercedes, JLR, and Volvo Auto were not available for both production and domestic sales.
In the first quarter of April to June 2023, the total production of Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycle reached 65,03,626 units. Domestic sales for the same quarter were reported as follows:
- Passenger Vehicles: 9,95,974 units
- Commercial Vehicles: 2,17,046 units
- Three Wheelers: 1,44,475 units
- Two Wheelers: 41,40,964 units
As with June data, information for BMW, Mercedes, JLR, Volvo Auto, Daimler, JBM Auto, and Scania was not available for certain segments.
Mr Vinod Aggarwal, President of SIAM, acknowledged the successful transition of the auto industry to BS 6 Phase 2 Emission Norms, highlighting the sector’s commitment to the environment. While some sub-segments experienced slight momentary declines compared to the previous year, he remains optimistic about the economy’s growth with a reasonable monsoon and lowering inflation, though high-interest rates remain a concern.
Mr Rajesh Menon, Director General of SIAM, reported that Passenger Vehicles achieved their highest-ever sales in Q1, showing a growth of 9.4% compared to the previous year. Two-Wheelers also posted an 11.2% growth in the same quarter, while Three-Wheeler sales grew by 89.4% on a low base. However, Commercial Vehicles experienced a decline of (-)3.3% in Q1 compared to the same period last year.
Despite challenges, the Indian auto industry continues to demonstrate resilience, adapting to regulations and market conditions, with several segments showcasing positive growth trends.
