Domestic Passenger Vehicle sales in July 2023 stood at 3,02,521 units as compared to 2,93,865 units sold in July 2022, registering a growth of 2.9 percent, while two-wheeler sales saw a decline of 7.1 percent last month and three-wheelers registered a 78.8 percent increase.
Passenger vehicle exports for July saw a healthy growth compared to its domestic sales, registering a YoY growth of 10.5 percent, while two-wheelers and three-wheelers saw a negative growth of 15 percent and 29.6 percent respectively.
Passenger Vehicle sales in July 2023
In the passenger vehicle segment, UV sales saw a strong spike in sales, registering 1,80,625 units as compared to 1,37,104 units sold last year, witnessing a YoY growth of 31.7 percent. UV exports also saw a growth of 10.7 percent last month compared to July 2022.
Amongst PV brands, Maruti Suzuki leads with 1,52,126 vehicle sales in July 2023, followed by Hyundai in second and Tata Motors in third place. Amongst PV makes Volkswagen saw the highest YoY growth at 31 percent.
Two-wheeler sales in July 2023
Total two-wheeler domestic sales in July 2023 stood at 12,82,054 units as compared to 13,81,303 units in July 2022, registering a negative growth of 7.1 percent. Two-wheeler exports stood at 3,01,516 units last month, which is again a decline of 15 percent.
Amongst two-wheeler OEMs, Hero MotoCorp leads July 2023 sales with 3,71,204 units, followed by Honda with 3,10,872 units, and Bajaj in third having sold 1,41,390 units in the domestic market.
Commenting on the sales trend, Vinod Aggarwal, President, SIAM said, “Though the Passenger Vehicle and three-wheeler segments are performing well, there has been a de-growth of two-wheelers in July 2023, compared to July 2022. Overall, we expect that the positive economic environment, good monsoons, and upcoming festive season will support continued growth in the auto industry.”
Commenting on July-2023’s performance, Rajesh Menon, Director General, SIAM said, “Sales of Passenger Vehicles of July 2023 has been the highest ever in July, with a marginal growth of 2.6 percent, compared to July 2022. Three-wheelers also posted a decent growth of 78.9 percent compared to the last year, which is the 2nd highest in the month of July, after the peak of 2018-19.”
