India’s Automobile Industry Records Highest Sales Growth in November

Automobile Business

In November 2022, auto sales in India increased by 28% year-over-year due to increased supply and strong demand for automobiles even after the festive season. According to data from the General public of Indian Auto Producers (SIAM), 276,231 passenger vehicles had been sold in November 2022, up from 215,626 units in 2021.

Since Tata Motors does not report sales on a monthly basis, SIAM estimates that the addition of 46,425 Tata Motors vehicles would result in a 32% increase in sales. While passenger vehicle deals expanded by 29% to 130,142 units in November 2022, the utility vehicles have expanded by a third to 138,780 units.

In India, automobile manufacturers primarily report dispatches from factories to dealerships rather than retail sales to customers. Vinod Aggarwal, director of SIAM, said that business opinion and positive purchasers have reflected in better deals in November 2022, compared with 2021, and they have likewise noticed a successive lessening over October 2022 in view of the irregularity and non-abrasiveness in fundamental import markets.

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In November 2022, wholesale sales of three-wheeled vehicles increased by double digits to 45,664 units, while wholesale sales of two-wheeled vehicles increased by 16.5% to 1,236,190 units. Motorcycle sales increased by 12.7% to 788,893 units, while scooter sales increased by 39% to 412,832 units.

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