November sees record-breaking passenger vehicle sales, according to the latest report from SIAM.
- IBEF
- December 13, 2023
In November 2023, the Indian passenger vehicle segment achieved record-breaking sales at 3.34 lakh units, showcasing a 3.7% year-on-year growth, as reported by the Society of Indian Automobile Manufacturers (SIAM). This milestone underscores positive trends in the automotive industry, particularly in the passenger vehicle category. The data reveals robust performances in other key segments, with three-wheelers experiencing an impressive 30.8% year-on-year growth, reaching 59,738 units. Two-wheelers, integral to the Indian automobile market, demonstrated noteworthy sales of 16,23,399 units, reflecting a substantial 31.3% growth compared to November 2022, approaching the peak recorded in November 2018. The SIAM report omitted data for prominent manufacturers such as BMW, Mercedes, JLR, Tata Motors, and Volvo Auto. The November 2023 sales figures underscore a dynamic and promising trajectory in the Indian automotive landscape.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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