Vehicle sales in May 2023 grow by 13.5%; auto industry advances with new powertrains: SIAM, ET Auto

New Delhi: Vehicle sales in all segments improved in May 2023 compared to May 2022 and this indicates that Indian Automobile Industry is in a positive transition phase with new powertrain technologies offered to consumers, the Society of Indian Automobile Manufacturers (SIAM) said.

Vinod Aggarwal, President, SIAM said, “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. The Indian Automobile Industry is currently in a transition phase with new powertrain technologies offered to consumers ranging from Electrified, Bio-Fuels and Gaseous Fuel driven vehicles which are being enabled through sound policies of the Government.”

Rajesh Menon, Director General, SIAM, said, “Sales of Passenger Vehicles of May 2023 has been the highest ever in May, returning a growth of 13.5%, compared to May 2022. Two-Wheelers also posted a growth of 17.4% in May 2023, compared to last year, but are still lower than 2016-17 levels. Domestic sales of Three Wheelers in May 2023 grew by 70.4% compared to May 2022, although on a low base, but still lower than the 2018-19 levels.”

The monthly domestic sales of passenger vehicles in May 2023 stood at 3,34,247 units compared to 2,94,392 units during the same month last year.

In the three-wheeler category, all the segments ended in green. The total domestic three-wheeler sales for the month stood at 48,732 units, compared to 28,595 units during the same month last year . Passenger carriers grew at a whopping rate with 38,590 units sold compared to the 20,174 units during the same period last year. Sales of goods carriers grew to 7,531 units. E-rickshaw sales stood at 2,314 units and e carts at 297 units.

The sales of two-wheelers also grew significantly with total domestic sales of 14,71,550 units during the month. Segment wise total units of scooters sold was at 4,46,593 compared to 3,98,099 in the corresponding period last year. Sales of mopeds stood at 35,837 units and motorcycles at 9,89,120 units. The sales of quadricycles were recorded at 35 units.

Monthly Domestic Sales

^(* BMW, Mercedes, JLR & Volvo Auto data are not available. Tata Motors Domestic Sales data included only in ‘Total PV’, detailed break-up is not available. However, without Tata Motors, ‘Total PV’ would be 2,51,051 for May 2022 and 2,88,369 for May 2023)