Most cars were sold in May 2023.Image Credit source: Unsplash

Passenger Vehicles Sales: The figures related to the sales of passenger vehicles have made the Indian automobile industry happy. In May 2023, the highest number of cars have been sold so far. The Society of Indian Automobile Manufacturers (SIAM) has released the auto sales figures for May 2023. As per SIAM data, last month four wheelerThe total production of three-wheelers, two-wheelers and quadricycles stood at 21,24,235 units. However, the most impressive figures are related to car sales, which shows that car companies have performed well in May.

SIAM has released the Performance Report of the Automobile Industry (May 2023) today. According to this, 3,34,247 units of cars were sold last month. Compared to May 2022, this time cars have been sold with 13.5 percent growth. Apart from this, sales of three-wheeler, two-wheeler and quadricycle have also done well.

record sales in may

The previous records of sales were demolished in May 2023 with the sale of 3.34 lakh cars. For your information, let us tell you that so far there has not been so much sale in the month of May till date. Talking about three-wheeler sales, a total of 48,732 units have been sold in the last month. Compared to May 2022, there has been an increase of 70.4 percent in the sales of May this year.

3,34,247 units of Total Passenger Vehicles were sold in May23. #SIAMData #BTNR

— SIAM India (@siamindia) June 13, 2023

Strong growth in every segment

Now talking about two-wheeler sales, 14,71,550 units have been sold in May 2023. Compared to May last year, this time there has been 17.4 percent more sales. On the sales data for May 2023, SIAM President Vinod Agarwal said that all segments – passenger vehicles, two-wheelers, three-wheelers have achieved double digit growth in May 2023 as compared to May 2022.

Changes in the Indian auto sector

Currently, the Indian automobile industry is going through a transformational phase with new powertrain technology. With the help of the government, vehicles running on electric, bio-fuel and gas fuel are being promoted. However, two-wheeler sales in May 2023 are lower than 2016-17 and three-wheeler sales are lower than 2018-19 levels.