4,000,000 PV Sales Ride to a Record High in 2023
Writer Admin
Sales of cars and utility vehicles posted strong growth last month, helping the 2023 volume to top 4 million units a year for the first time. As per industry estimates, about 4.1 million passenger vehicles were sold in the local market in the last calendar year, an increase of around 8.2% compared with sales of 3.79 million units in 2022.

Last month, carmakers reported a 4.4% rise in dispatches from factories at 287,904 units, the highest on record for December. Retail sales were substantially higher at 442,800 units, according to industry estimates, helping bring stocks down. The industry started the new year with an inventory of 176,500 units.


Shashank Srivastava, senior executive officer (marketing and sales) at market leader Maruti Suzuki, said 2023 was a "phenomenal year" for the industry with sales breaking previous records every month through December. "Sales were driven by a strong increase in demand for SUVs, which now account for nearly half of all vehicles sold in the domestic market," Srivastava said.

 

Link