More than 4.1 million cars, sedans and utility vehicles were sold in the domestic market last year, an 8.2% increase from the 3.79 million vehicles sold in 2022, showed data from industry body Society of Indian Automobile Manufacturers (SIAM) issued on Friday. Growth was powered by demand for utility vehicles, which comprised 57.4% of total sales.
Vehicle Registration: This growth in monthly registrations was a sharp pickup from the previous two years when the numbers had dropped - by 5.4% in December 2022 and 16.6% in December 2021. It has been driven by robust supply of vehicles, better promotional offers and increased consumer appetite to buy new cars, according to industry insiders.
Among the top sellers were Maruti Suzuki India (MSI) Ltd, Tata Motors Ltd, Hyundai Motors India, Mahindra & Mahindra Ltd (M&M), Kia Motors India and Toyota Kirloskar Motor
This growth in monthly registrations was a sharp pickup from the previous two years when the numbers had dropped - by 5.4% in December 2022 and 16.6% in December 2021. It has been driven by robust supply of vehicles, better promotional offers and increased consumer appetite to buy new cars, according to industry insiders.
Pakistan s automotive industry continues to face challenges as passenger vehicle sales decline for the second consecutive month. In November, only 4,875 units were sold, marking a significant drop of 68% compared to the same period last year. Factors such as increasing input costs, reduced demand, and high taxes contribute to the decline. In contrast, Indian car manufacturers achieved remarkable success, selling over 3.6 lakh units in November alone.