Auto industry sales performance of February 2023

Adfactors PR | 11/03/2023 09:20 PM

Monthly Performance: February 2023

Production: The total production of Passenger Vehicles*, Three Wheelers, Two Wheelers and Quadricycles in the month of February 2023 were 17,54,922 units.

Domestic Sales:

• Passenger Vehicles* sales were 291,928 units in February 2023.
• Three-wheeler sales were 50,382 units in February 2023.
• Two-wheeler sales were 11,29,661 units in February 2023.

Performance: April 2022 - February 2023

Production: Total production of Passenger Vehicles**, Three Wheelers, Two Wheelers and Quadricycles in April 2022 - February 2023 were 2,27,50,797 units.

Domestic Sales:

• 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
• Two-wheeler sales were 1,45,71,534 units in April 2022 - February 2023

* BMW, Mercedes, Tata Motors & Volvo Auto data is not available

** BMW, Mercedes & Volvo Auto data is not available, Tata Motors data is only available for Apr-Dec

Commenting on February 2023 sales data, Mr 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 February 2023 sales data, Mr 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% 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 the Passenger Vehicles.”

Domestic Sales: Monthly

* BMW, Mercedes, Tata Motors & Volvo Auto data is not available

Cumulative Sales: April 2022 - February 2023

** BMW, Mercedes & Volvo Auto data is not available, Tata Motors data is only available for Apr-Dec

Rajesh Menon, Director General, SIAM rajesh.menon@siam.i