Passenger Vehicle Sales Rise 26.7% In 2022-23 As Chip Shortages Ease
NDTV
India's passenger vehicles sales grew 26.7% in the fiscal year 202223, as chip shortages eased and demand for sport utility vehicles (SUVs) surged, an auto industry body said on
India's passenger vehicles sales grew 26.7% in the fiscal year 2022-23, as chip shortages eased and demand for sport utility vehicles (SUVs) surged, an auto industry body said today.
Wholesale passenger vehicle volumes for the year rose to 3.9 million units in the year ended March 31, from 3.1 million units a year ago, the Society of Indian Automobile Manufacturers (SIAM), which records sales to dealers, said.
Despite inflation trending higher through the year, a mix of improved chip supply, higher incomes and pent-up demand, especially for SUVs supported sales at Indian automakers.
Buying ahead of implementation of new fuel emission norms, and strong demand during the festival season also drove sales towards the end of the year.
