Passenger vehicle wholesale increases by 14% to 393,074 units in January

In January, domestic passenger vehicle wholesales surged by 14% year-on-year to 393,074 units, marking the highest-ever figure for the month, driven by strong demand for utility vehicles, according to the Society of Indian Automobile Manufacturers (SIAM). The data revealed that manufacturers dispatched 346,080 passenger vehicles to dealers in January 2023, showcasing notable growth compared to the same period last year.

Meanwhile, two-wheeler wholesales saw a significant 26% increase to 1,495,183 units in January, reflecting a robust recovery in the rural market. SIAM President Vinod Aggarwal attributed the resilience in passenger vehicle sales to positive consumer sentiments, while expressing optimism about the commercial vehicle sector’s potential for growth in the upcoming months of the fiscal year. Additionally, three-wheeler wholesales also witnessed a 9% growth, with 53,537 units sold compared to 48,903 units in January 2023. SIAM Director General Rajesh Menon highlighted that both passenger vehicles and three-wheelers achieved their highest-ever sales in the current fiscal year from April to January.