Passenger vehicles post highest-ever sales in Nov: Siam
Dec 13, 2022
New Delhi [India], December 13 : The segment of passenger vehicles (PV) posted its highest-ever sales during the month of November in fiscal 2022-23 (FY23). PV sales were 2,76,231 units in November 2022, against 2,15,626-unit sales in November 2021, according to the sales data released by industry body -- Society of Indian Automobile Manufacturers (Siam).
According to November data, two-wheeler sales were 12,36,190 units in November 2022 as against 10,61,493 units sold in November 2021. Three-wheeler sales were 45,664 units in November this year as against 22,551 units sold in November 2021.
The total production in November of PVs, three-wheelers, two-wheelers, and quadricycles in the month of November 2022 was 20,42,575 units.
Commenting on November sales, Vinod Aggarwal, President, Siam, said, "Positive consumer and business sentiments has reflected in the better sales in the month of November 2022, compared to the previous year. We note a sequential decline over October 2022 attributable to seasonality and softness in key export markets."
On Industry performance in November 2022, Rajesh Menon, Director-General, Siam, said, "Passenger vehicles posted highest ever sales in FY2022-23 till November, while the three-wheelers are still lower than 2010-11 and two-wheelers are less than 2016-17. Higher interest rates and increase in long-term insurance premium, continues to be a concern for the consumers."
