New Delhi: Domestic wholesales for all the segments including passenger vehicles, two wheelers, three wheelers and quadricycles were in green during the last month of the fiscal year 2022-23, as per the latest data released by Society of Indian Automobile Manufacturers (SIAM) on Thursday.
Two wheelers which had been a pain point for the industry has seen some recovery over the last year and marked a 7.6% growth at 12.90 lakh units in March 2023, compared to 11.98 lakh units in the corresponding month of last year. However, industry experts believe it will take a few more years to reach its peak sales.
Passenger vehicles grew 4.4% at 2.92 lakh units during the month under review. In March 2022, PV dispatches stood at 2.79 lakh units. Interestingly, the sales for utility vehicles increased to 1.57 lakh units in March 2023, as against 1.32 lakh in March 2022. But the sales of passenger cars dropped to 1.22 lakh units in March this year, as against 1.38 lakh units in the same month last year.
It may be noted that SIAM data does not include sales of Tata Motors, BMW, Mercedes, Volvo Auto. Tata Motors clocked sales of 44,044 units during March 2023.
Three wheeler sales registered a growth of 69.1% during March with sales at 54, 360 units. In March 2022, a total of 32,135 units were dispatched to the domestic market.
Industry reported total vehicles domestic sales at 16.37 units in March, as compared to 15.10 lakh units in corresponding month of last fiscal year. This marks a year-on-year growth of 8.3%. This includes 105 units of quadricycles dispatched in March 2023, over 49 units in March last year.
