SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 11 Mar, 2023  

Car.9.thmb.jpg Growth momentum in sale of passenger vehicles continues

Car.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 11 Mar, 2023
Growth momentum in the sale of passenger vehicles continued in February this year.

As per data released by the Society of Indian Automobile Manufacturers (SIAM) on Friday, Passenger Vehicles sales were 2,91,928 units in February as against 2,62,984 in February 2022.

Similarly, three-wheeler sales were 50,382 units and two-wheeler sales were 11,29,661 units in February 2023 as against 27,074 and 10,50,079 in February 2022.

Commenting on February 2023 sales data, Vinod Aggarwal, President, SIAM said, "Overall positive sentiments in the market continues, which is also driven by encouraging announcements at the Union Budget for consumers. Auto Industry is fully geared up for transition to Phase 2 of BS 6 Emission Norms for all categories of vehicles from next month. Hike in Repo Rates in February, which would result in higher cost of borrowings, remains a concern and we hope that the rates would get moderated suitably. Moderation of CNG Fuel Prices is also important for expanding the footprint of Gas Based Mobility which is critical for Sustainable Mobility."

Commenting on the sales data, Rajesh Menon, Director General, SIAM said, "Passenger Vehicles posted its highest ever sales of February and the three-wheeler segment posted appreciable growth this month, compared to last two years. The two-wheeler segment posted a moderate growth of 8 per cent in February 2023, compared to February 2022. In the period April - February, two and three-wheelers are yet to reach the pre-Covid levels, though it is the highest ever for passenger vehicles."

As per the SIAM data, the total production of passenger vehicles, three wheelers, two-wheelers and quadricycles in the month of February 2023 were 17,54,922 units.

It said that passenger vehicles sales were 34,61,716 units in April 2022 - February 2023, three-wheeler sales were 4,34,408 units in April 2022 - February 2023 and two-wheeler sales were 1,45,71,534 units in April 2022 - February 2023.

SIAM has said that BMW, Mercedes and Volvo Auto data is not available while Tata Motors data is only available for April-December.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter