October saw the highest-ever shipments of passenger vehicles and three-wheelers due to festive demand
According to auto industry group SIAM, passenger car wholesales reached a record high in October thanks to strong demand over the holiday season.
Comparing October 2022 to October 2022, the total number of passenger car shipments to dealers increased by 16 percent year over year to 3,89,714 units.
In a similar vein, October had the largest monthly shipments for the three-wheeler sector ever at 76,940 units, up 42% from 54,154 units in the same month last year.
According to Vinod Aggarwal, president of the Society of Indian Automobile Manufacturers (SIAM), “both passenger vehicles and three-wheelers have posted the highest ever sales of October, while the two-wheeler segment has also posted good sales in the month of October 2023.”
The government’s continued supportive policies and the current holiday season have allowed all three of the categories to record double-digit growth, he said. This growth momentum is positive for the industry.
October saw a 20% rise in two-wheeler sales to 18,95,799 units, up from 15,78,383 units in the same month the previous year.
