Domestic passenger vehicles sale soars 23% y-o-y to 37.93 lakh units in 2022

2 Jan 2023 , 08:54 AM

Domestic passenger vehicles sales surged by 23% to a record of 37.93 lakh units in 2022 led by the interests of Maruti Suzuki, Hyundai and Tata Motors as the companies rode on easing of pandemic related challenges and semiconductor shortages to cash in on pent-up demand, especially for SUVs.

Other manufacturers like Toyota Kirloskar Motor and Skoda India also reported record sale figures in 2022.

Maruti Suzuki India Senior Executive Officer, Marketing & Sales Shashank Srivastava said, ‘The industry wholesales in January to December 2022 were just short of 38 lakh units. It was 37.93 lakh units against 30.82 lakh in 2021, which is a growth of 23%.’

He further said the 2022 wholesales are ‘the highest ever in the industry for a calendar year’ and the last highest was in 2018 which was 33.3 lakh units which is about 14 per cent higher than the highest ever,’ he added.

On the reasons for the growth, Srivastava said, demand for SUVs continued to grow and stood at around 42.3 per cent of the total PV sales.

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