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Growth momentum in sale of passenger vehicles continues
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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.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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89.35 |
Japanese
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53.40 |
As on 12 Oct, 2024 |
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