Wholesale vehicle sales up 7.8 pc in January on back of strong utility vehicles demand: SIAM
Feb 13, 2023
New Delhi [India], February 13 : The country's total vehicle sales grew by 7.8 per cent in January 2023 on the back of strong demand for utility vehicles (UV) and better consumer sentiment, the Society of Indian Automobile Manufacturers (SIAM) said on Monday. A total of 15,31,447 units were sold in January 2023 as against 14,19,354 units sold in January 2022.
According to SIAM, wholesale passenger vehicle sales volume grew 17.2 per cent in January. As many as 2,98,093 units were sold in January 2023 as against 2,54,287 units sold in January 2022.
Two-wheeler sales in January grew by 3.8 per cent. SIAM said 11,84,379 units of two-wheelers were sold in January 2023, against 11,40,888 units sold in January 2022. The wholesale sales of three-wheelers have seen a year-on-year jump of 102.2 per cent in January 2023. As many as 48,903 units of three-wheelers were sold in January 2023 as against 24,178 units sold in January 2022.
Commenting on January 2023 sales data, Vinod Aggarwal, President, SIAM, said, "Better consumer sentiments is driving demand for passenger vehicles. Three-wheeler segment has gained traction compared to the past two years, though they are still to reach the pre-Covid levels. The rate of growth of two-wheelers in the recent year has not kept pace with the growth in the other segments. Positive announcements at the Union Budget should help in continuing with the overall growth momentum."
Rajesh Menon, Director-General, SIAM, said, "Passenger vehicles again saw highest-ever sales in the month of January and for the first time, it has crossed 3-million sales mark in 10 months, from April to January period. Sales of L5 category three-wheeler more than doubled in January 2023, compared to January 2022, while two-wheelers posted a marginal growth of just around 4 per cent in the month of January 2023, compared to January 2022."
L5 category three-wheeler means a three-wheeled motor vehicle with a maximum speed exceeding 25 kmph and motor power exceeding 0.25 kW.
