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Passenger automobile gross sales surpass 2018-19 peak: SIAM

Complete passenger automobile (PV) wholesales (dispatches) in March rose by round 5 per cent year-on-year (YoY) to 2,92,030 models within the home market as in contrast with 2,79,525 models within the corresponding month final yr.

The month-to-month information shared by Society of Indian Car Producers (SIAM) on Thursday indicated that passenger automotive wholesales declined by greater than 11 per cent YoY to 1,22,133 models through the month as in opposition to 1,38,014 in March 2022.

Nonetheless, the utility automobile phase’s gross sales grew by greater than 19 per cent YoY to 1,57,881 models through the month as in opposition to 1,32,073 models in the identical month final yr.

Two-wheeler leap

Within the two-wheeler phase, whole gross sales touched 12,90,553 models in March, a leap of round eight per cent YoY, as in contrast with 11,98,825 models in the identical month final yr.

Whereas motorbike gross sales had been at 8,16,122 models (in opposition to 7,86,479 models in March 2022), scooter gross sales rose to 4,37,617 models (in opposition to 3,74,697 models) through the month.

Complete automobile wholesales final month stood at 16,37,048 models, a progress of round eight per cent from 15,10,534 models a yr in the past, SIAM information indicated.

For the monetary yr ended March 31, home wholesales of PVs had been at 38,90,114 models, as in comparison with 30,69,523 models within the earlier yr. Two-wheeler wholesales additionally grew at 1,58,62,087 models through the month, as in opposition to 1,35,70,008 models in FY2021-22, SIAM stated.

Complete automobiles wholesales throughout classes had been larger at 2,12,04,162 models in FY2022-23, as in opposition to 1,76,17,606 models within the earlier monetary yr.

Industrial automobiles

“The final monetary yr has been a yr of consolidation, put up Covid. The yr began once more with provide chain disruptions from Ukraine battle. Nonetheless, with environment friendly administration of provide chains and higher availability of commodities, particularly for the electronics objects, costs have moderated over the yr, although it stays a priority. Passenger automobile phase posted the highest-ever home gross sales, surpassing the earlier peak in 2018-19,” Vinod Aggarwal, President, SIAM stated.

Industrial automobiles posted the second highest home gross sales, near the earlier peak of 2018-19. Inspite of fine progress in home gross sales in three-wheelers, they’re nonetheless under the 2010-11 ranges, whereas two-wheelers home gross sales are under the 2014-15 ranges, he stated.

“Beneficial coverage initiatives starting from influence of recent PLI schemes, encouraging bulletins in Funds, forward-looking logistic and overseas commerce insurance policies, and lately introduced fuel pricing tips would go a great distance in supporting the expansion of the Trade,” he added.

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