3.34 lakh PVs sold in India in May, log annual growth of 13.5%: SIAM 

Passenger vehicle sales logged an yearly rise of 13.5 per cent in May 2023 at 3,34,247 units. Total 2,94,392 units of passenger vehicles were sold in May last year. Not only this, two-wheeler sales also saw an annual surge from 12,53,187 units in May 2022 to 14,71,550 units in May 2023, according to the data by the Society of Automobile Manufacturers (SIAM). Three-wheeler sales also went up from 28,595 units in May 2022 to 48,732 units in May this year. 

India’s largest automaker Maruti Suzuki emerged as the segment leader in terms of the sales of passenger vehicles, utility vehicles, and vans in the same period this year. MSI sold 84,647 passenger vehicles in May 2023 whereas it sold 1, 74,709 units of PVs in April-May 2023-24. The country’s largest automaker sold 46,243 utility vehicles in May this year and 82,997 UVs in April-May 2023-24.  

MSI sold a total of 12,818 vans in May 2023 and 23,322 vans in the period of April-May 2023-24. Among the most-sold models of Maruti Suzuki across segments are Maruti Suzuki Alto, Maruti Suzuki S-Presso, Maruti Suzuki Baleno, Maruti Suzuki Dzire, Maruti Suzuki Ignis, Maruti Suzuki Celerio and Maruti Suzuki Ciaz.  

Maruti Suzuki was followed by automakers such as Hyundai Motor India (53,177 units in May 2023); Mahindra & Mahindra (23,784 units in May 2023); Toyota Kirloskar (27,577 units in May 2023); Kia Motors India (24,869 units in May 2023); and Honda Cars India (6,426 units in May 2023).  

Commenting on the sales figures, SIAM Director-General Rajesh said: "Domestic sales of three- wheelers in May 2023 grew by 70.4 per cent compared to May 2022, although on a low base, but is still lower than the 2018-19 levels". 

Furthermore, SIAM President Vinod Aggarwal noted that the automobile Industry is in a transition phase with new powertrain technologies offered to consumers such as electrified, bio-fuels and gaseous-fuel driven vehicles which are being enabled through government policies. 

"All the segments viz. passenger vehicles, two-wheelers and three-wheelers have posted growth in double digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevalent economic environment,"  Aggarwal said.

(More details awaited)