The Society of Indian Automobile Manufacturers (SIAM) has shared sales figures for the Indian auto industry for the calendar year 2023, showing a growth of 9.8% over the previous year. A total of 2,28,36,604 vehicles across categories were sold last year as compared to 2,07,92,824 units sold in calendar year 2022. A total of 41,01,600 passenger vehicles were sold last year as against 37,92,444 units sold in the year-ago period, witnessing a jump of 8.1%.
Sales of commercial vehicles saw a jump of 4.6% from 9,33,396 units in 2022 to 9,78,385 units last year. A total of 6,80,550 three-wheelers were sold in the domestic market last year, a massive jump of 62% from 4,18,510 units sold in the previous year. Major chunk of sales came from the two-wheeler segment at 1,70,75,160 units in 2023, witnessing a growth of 9.1% over the year-ago sales of 1,56,47,973 units.
In the year 2023, the Indian auto industry witnessed tremendous growth over previous year as it recovered from pandemic woes and supply chain issues eased. “Various schemes of Government of India that have been operational now, are showing good results, and also helping the Auto Industry to seamlessly transform to new powertrain realms. Auto Industry is optimistic that the growth momentum would continue in year 2024 as well,” said Vinod Aggarwal, President, SIAM.
Total production of passenger vehicles increased from 44,39,144 units in 2022 to 47,83,628 units last year, witnessing a jump of 7.8%. Commercial vehicles’ production rose from 10,18,098 units in 2022 to 10,67,879 units in 2023, posting a growth of 4.9%. As for two-wheelers, the production jumped to 2,03,12,955 units in 2023 from 1,95,93,268 units rolled out the previous year, showing a growth of 3.7%. A total of 9,74,483 three-wheelers were produced in 2023, jumping 15% from 8,41,462 units produced a year ago.