2024-01-01 20:30:00
India Sees Surge in Passenger Vehicle Sales in 2023
New Delhi: The Indian automobile industry has witnessed a significant growth in passenger vehicle sales last year, with an increase of 8.3 percent compared to the previous year. According to the latest data, in 2022, passenger vehicle sales stood at 37.92 lakh, which has jumped to 41.08 lakh in 2023.
Leading automakers such as Hyundai, Maruti Suzuki, and Toyota are eyeing their highest annual sales in 2023. Hyundai, for instance, managed to sell over six lakh vehicles domestically, while Maruti Suzuki crossed the 20 lakh mark for the first time. Additionally, Toyota’s total vehicle sales saw a remarkable 46 percent growth, from 1.60 lakh in 2022 to 2.33 lakh in 2023.
In the electric vehicles segment, there was a notable surge in sales, with a 48 percent increase in 2023. The sales of electric vehicles in India jumped from 10.25 lakh in 2022 to 15.26 lakh in 2023. This rapid growth has prompted significant investment from both established OEMs and startups in the electric vehicle segment.
Here is a breakdown of the sales figures for some of the major companies:
– Toyota: 10,421 (December 2022) to 22,867 (December 2023) – 119% rise
– Mahindra: 28,445 (December 2022) to 35,174 (December 2023) – 24% rise
– Tata Motors: 74,356 (December 2022) to 77,855 (December 2023) – 4.7% rise
– Maruti Suzuki: 1,39,347 (December 2022) to 1,37,551 (December 2023) – 1.3% decline
The surge in passenger vehicle sales and the rapid growth of the electric vehicle segment indicate a promising trend for the Indian automobile industry. With the increasing focus on electric vehicles, it is expected that this trend will continue in the coming years, further transforming the Indian automotive landscape.
#Domestic #Auto #Sales #Happy #Domestic #Auto #Sales #Happy