According to the Society of Indian Automobile Manufacturers (SIAM), overall two-wheeler sales decreased by 7.2% year over year in July 2023.
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 other hand, three-wheelers experienced a respectable growth of 78.9% compared to the prior year, which is the second-highest July growth rate after the peak of 2018–19. In July 2023, 56,034 three-wheelers were sold, compared to 31,324 in July 2022. A total of 1.64 million units of vehicles were sold in July 2023 as opposed to 1.70 million units in July 2022, according to SIAM data, excluding sales of BMW, Mercedes, JLR, and Volvo Auto, for which 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.”