Auto Sales: 2,621,248 vehicles sold in October 2023, highest ever sales in the month for PVs, says SIAM

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SIAM data, the total production of Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycle in October 2023 was 2,621,248 units. For passenger vehicles in particular, the segment saw 15.9 percent growth year-on-year (YoY) - a record milestone. Also Read: Share of entry-level cars in India's PV market plummets to record low – Passenger Vehicle sales were 389,714 units in October 2023.

– Three-wheeler sales were 76,940 units in October 2023 – Two-wheeler sales were 1,895,799 units in October 2023. Vinod Aggarwal, President, SIAM credited the festive season and favourable government policies for the sales boost. Also Read: From input cost to high demand, what's fuelling auto sector's growth? “Both passenger vehicles and three-wheelers have posted highest-ever sales in October, while the two-wheeler segment has also posted good sales in the month of October 2023.

All three segments have posted double-digit growth. This growth momentum is encouraging for the industry," he added. Rajesh Menon, Director General, SIAM said that passenger vehicles posted the highest-ever sales of October of 3.90 lakh units, with a growth of 15.9 percent, compared to last year.

Also Read: Small car sales in India plunge 75% as rural incomes decline Three-wheelers also reported a decent growth of 42.1 percent, posting sales of about 0.77 lakh units in October 2023. And 18.96 lakh units of two-wheelers were sold, with a growth of 20.1 percent YoY, he added. Earlier in October, SIAM reported that the sales of entry-level cars slumped 75 percent to 35,000 units in the three months through September from a year earlier.