Indian Economy News

Indian auto industry records highest-ever sales in April, 2023 and recorded a 12.9% growth

The Indian auto industry performed well in April, 2023, showing considerable growth in all major segments. A total of 1,957,599 passenger vehicles, three-wheelers, two-wheelers, and quadricycles were produced in the month. Domestic sales also increased, demonstrating a smooth transition to BS 6 Phase 2 Emission Norms.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in April 2023 reached 331,278 units, marking the highest-ever sales for the month of April and reflecting a growth of 12.9% compared to April 2022.

A strong performance was witnessed by the two-wheeler segment as the sales stood at 1,338,588 units, registering a 15.1% increase over the previous year. In addition, an increase was also witnessed by the three-wheeler segment as it reached 42,885 units in April, 2023. With this increase, April's sales numbers are getting closer to what they were before COVID.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.