May saw a two-digit increase in automobile sales.

14 Jun 2023 , 09:20 AM

Vehicle sales last month increased by a solid double-digit percentage due to stable supplies and persistent demand for passenger cars, three-wheelers, and two-wheelers.

According to data released by the Society of Indian Automobile Manufacturers (SIAM), 334,247 cars, sedans, and utility vehicles were dispatched from factories to dealerships in May, an increase of 13.5% from a year earlier and the highest dispatches of passenger vehicles ever recorded for the month of May.

Three-wheeler sales increased by 70.4% to 48,732 units, while two-wheeler sales increased by 17.4% to 1,471,550 units.

According to SIAM president Vinod Aggarwal who talked to ET, ‘all the segments, including passenger vehicles, two-wheelers, and three-wheelers, have posted growth in double digits in May 2023, compared to May 2022.’ We predict that this trend will continue, helped by the current economic climate.

The majority of automakers in India don’t disclose retail sales to customers, but rather wholesale deployments from factories to dealerships.

Despite a significant increase year over year, sales of two-wheelers and three-wheelers fell short of those of 2016–17 and 2018–19, respectively, according to Rajesh Menon, director general of SIAM.

In May, sales of scooters jumped 12% to 446,593 units, while those of motorcycles increased 20.6% to 989,120 units.

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