According to the Society of Indian Automobile Manufacturers (SIAM), the demand for passenger vehicles (PV) continued to be strong in April, resulting in a year-on-year (YoY) increase of 13{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37}. The PV dispatches from factory gates to dealerships reached 3,31,278 units, up from 2,93,303 units in April 2022.
Maruti Suzuki, the dominant market leader, dispatched 1,37,320 units to dealers, up from 1,21,995 units in April last year, while Hyundai Motor sold 49,701 units compared to 44,001 units in the year-ago period.
Additionally, two-wheeler dispatches rose by 15{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} to 13,38,588 units from 11,62,582 units a year ago, with motorcycle wholesales increasing to 8,39,274 units in April from 7,35,360 units in the same month in 2022. Scooter dispatches also rose to 4,64,389 units in April compared to 3,88,442 units in the previous year.
The total sales of three-wheelers increased significantly to 42,885 units in April, compared to 20,997 units in April 2022. SIAM’s president, Vinod Aggarwal, believes that the automobile industry has been able to transition smoothly to BSVI Phase 2 emission norms from April 1, 2023, as all segments, including passenger vehicles, two-wheelers, and three-wheelers, have shown growth in April compared to last year.
Rajesh Menon, director general at SIAM, added that two-wheelers posted a growth of 15{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} in April 2023 compared to last year, while the domestic sales of three-wheelers have nearly reached pre-coronavirus levels in April. Additionally, the sales of passenger vehicles in April were the highest ever recorded for that month. The industry hopes to sustain this growth with the upcoming monsoon season and other factors such as good rainfall.