India’s Total Vehicle Sales See 3.45% Growth In August 2023

The Society of Indian Automobile Manufacturers (SIAM) has released the auto industry’s cumulative monthly sales for the month of August 2023. Last month the auto sector collectively sold 19,90,695 units, witnessing a year-on-year growth of 3.45 per cent compared to 19,24,238 vehicles sold in August 2022. Total passenger vehicle sales in August 2023 stood at 3,59,228 units, a growth of 9.4 per cent compared to 3,28,376 vehicles sold during the same period last year. 

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Commenting on August 2023 performance, Rajesh Menon, Director General, SIAM said, “3.59 lakh units of Passenger Vehicles were sold in the month of August, with a growth of 9.4 per cent compared to August 2022. Three-Wheelers also reported a significant growth of 68.79 per cent, posting sales of about 0.65 lakh units in August 2023. 15.67 Lakh Two-Wheelers were sold last month in the country, with a growth of 0.59 per cent compared to August 2022.”

The two-wheeler segment reported collective monthly sales of 15,66,594 units in August 2023. Compared to 15,57,429 two-wheelers sold during the same month in 2022, the YoY remained flat. Having said that, in August 2023, India’s total three-wheeler sales also stood at 64,763 units, which is a growth of nearly 69 per cent compared to 38,369 units sold during the same period last year. Last month, Quadricycle sales also went up 72 per cent to 110 units, compared to 64 units sold in August 2022.

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Commenting on sales data of August 2023, Vinod Aggarwal, President, SIAM said, “Last month saw the highest ever August month sales for Passenger Vehicles and Three-Wheelers, while Two-Wheeler sales remained at levels similar to a year ago. We have also observed good growth in the Commercial Vehicle segment in August 2023. Based on the performance of last month, we are even more optimistic for demand to pick up during the festive season, enabled by a positive economic outlook and the revival of monsoon after a deficit in August.”

In August 2023 the collective vehicle production of PVs, three-wheelers, two-wheelers, and quadricycle stood at 23,85,901 units.