SUV demand drives record passenger vehicle sales in FY23
1 year, 11 months ago

SUV demand drives record passenger vehicle sales in FY23

Hindustan Times  

India's passenger vehicle sales hit a record high in the fiscal year 2022-23, as chip shortages eased and customers shelled out more money for sport utility vehicles, an auto industry body said on Thursday. Sales of SUVs, which made up more than 50% of total passenger vehicle sales in the year, was "much higher than expected", Society of Indian Automobile Manufacturers president Vinod Aggarwal said. Passenger vehicle volumes for the year rose nearly 27% to 3.9 million units in the year ended March 31, SIAM, which records sales to dealers, said. Buying ahead of implementation of new fuel emission norms, and strong demand during the festival season also drove sales towards the end of the year.

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