New Delhi [India], August 10 : Overall two-wheeler sales registered a degrowth of 7.2 per cent year-on-year in July 2023, according to the Society of Indian Automobile Manufacturers (SIAM).
The association released July sales data on Thursday. A total of 1.28 million units were sold in July 2023 as against 0.38 million units sold in July 2022.
Further, the passenger vehicle sales were at 350,149 units in July 2023 as against 341,370 unit sold in July 2022.
On the contrary, three wheelers posted a decent growth of 78.9 per cent compared to the last year, which is the 2nd highest in the month of July, after the peak of 2018-19. Three-wheeler sales were 56,034 units in July 2023 as against 31,324 units sold in July 2022.
According to the SIAM data, a total of 1.64 million unit vehicles were sold in July 2023 as against 1.70 vehicles sold in July 2022, excluding BMW, Mercedes, JLR and Volvo Auto, whose data were not available.
Commenting on sales data of July 2023, Vinod Aggarwal, President, SIAM said, “Though the Passenger Vehicle and Three-Wheeler segments are performing well, there has been a de-growth of Two-Wheelers in July 2023, compared to July 2022. Overall, we expect that the positive economic environment, good monsoons, and upcoming festive season will support continued growth in the Auto Industry.”
Commenting on July-2023 performance, Rajesh Menon, Director General, SIAM said, “Sales of Passenger Vehicles of July 2023 has been the highest ever in July, with a marginal growth of 2.6 per cent, compared to July 2022. Three Wheelers also posted a decent growth of 78.9 per cent compared to the last year, which is the 2nd highest in the month of July, after the peak of 2018-19. However, after posting growth in each of the previous last 3 months in this financial year, Two-Wheeler segment de-grew by (-) 7.2 per cent in July 2023, compared to last year.”
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor