Automobile sector of the country Is on the boom. There is huge demand for two-wheelers, cars, buses and trucks. Due to this, new records are being created in the sales of vehicles. Let us tell you that wholesale sales of passenger vehicles in India increased by 8.4 percent on an annual basis to 42,18,746 units in the financial year 2023-24. Industry body SIAM gave this information on Friday. The total passenger vehicle supply in the financial year 2022-23 was 38,90,114 units.
Bumper sales of two-wheelers
According to data released by SIAM, sales of two-wheelers increased by 13.3 percent to 1,79,74,365 units in the last financial year 2023-24, while it was 1,58,62,771 units in the financial year 2022-23. During the period under review, vehicle sales across all categories increased by 12.5 percent to 2,38,53,463 units as against 2,12,04,846 units in the financial year 2022-23.
Motor vehicle retail sales increased by 10 percent
Recently, motor vehicle retail sales witnessed double digit growth in FY 2023-24 on the back of record sales of passenger vehicles, three-wheelers and tractors. Dealers’ organization FADA had given this information. Motor vehicle retail sales increased by 10 per cent to 2,45,30,334 units in the last financial year, compared to 2,22,41,361 units in 2022-23. There were record sales of passenger vehicles, three-wheelers and tractors last year. At the same time, total registration in March stood at 21,27,177 units with an increase of three percent on annual basis. Passenger vehicle retail sales declined six percent to 3,22,345 units in March 2023 compared to 3,43,527 units. However, two-wheeler registrations increased by five per cent year-on-year to 15,29,875 units last month.
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