Vehicle sales in India rose 11 percent last year, according to the Automobile Dealers Association.
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| vehicle sales 2022 to 2023. |
What is the car sales forecast for 2023 in India?
The country's total vehicle sales in the year 2022 was 2.14 crore. It increased by 11 percent to 2.38 crore last year.
Passenger vehicles increased by 11 percent, two-wheelers by 9 percent and three-wheelers by 58 percent. Similarly, commercial vehicles and tractor saw a rise of almost 8 percent.
In this regard, the Agents Vehicle Association has informed
Every segment under the automotive sector is likely to move towards growth this year as well. With new introductions and a stable market, passenger vehicle sales are expected to grow.
Vehicle Sales 2022-2023
Section..2 Wheelers..2022. 1.55 crore. 2023. 1.70 crore growth.. 9.00%.
Section...3 Wheelers..2022. 6.81 lakh.. 2023. 10.80 lakh. Growth.. 58.00%.,
Sect..Passenger Vehicles..2022. 34,89 lakhs.. 2023.. 38,60 lakhs. Growth..11.00%.
Sect..Commercial Vehicles..2022. 9.18 lakhs. 2023. 9.94 lakhs. Growth..8.00%.
Sect..Tractor... 2022, 8.13 Lakhs. 2023. 8.71 lakh. Growth..7.00%.
New launches in the first half of this year will boost sales of two-wheelers. And the current overwhelmingly electric-vehicle environment is contributing to this.
The commercial vehicle segment is likely to grow due to increased government spending on elections and infrastructure projects and increased demand from key industrial sectors based on coal and cement.
Factors such as low fuel prices and crop cash payments to farmers have boosted consumer buying sentiment. Thus, the demand for vehicles is likely to increase.
Along with this, the auto market is likely to improve even through the replacement of old vehicles.
This has been informed by the Association of Vehicle Agents.