Passenger Vehicle wholesales jump 13.54% in May

14 Jun 2023 , 10:13 AM

According to the Society of Indian Automobile Manufacturers (SIAM), the wholesale of domestic passenger vehicles witnessed a 13.54% growth in May, reaching a total of 3,34,247 units. According to the most recent SIAM data, manufacturers delivered 2,94,392 passenger vehicles (PVs) to dealers in May 2022.

In May, the wholesale of domestic two-wheelers reached 14,71,550 units, a 17.42% y-o-y increase over the previous year’s figure of 12,53,187 units.

Similarly, three-wheeler wholesales increased to 48,732 units in May 2023, up from 28,595 units in May 2022.

SIAM reported that the overall vehicle dispatches across various categories reached a total of 18,08,686 units in May 2023, compared to 15,32,861 units in May 2022, reflecting a significant increase. 

SIAM President Vinod Aggarwal highlighted that all segments, including passenger vehicles, two-wheelers, and three-wheelers, experienced double-digit growth in May 2023 compared to the same period in 2022. He expressed optimism that this positive trend would continue due to the favorable economic conditions.

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