Key Points
New Delhi: Sales of cars and utility vehicles posted strong growth last month, helping the 2023 volume to top 4 million units a year for the first time..
As per industry estimates, about 4.1 million passenger vehicles were sold in the local market in the last calendar year, an increase of around 8.2% compared with sales of 3.79 million units in 2022...
Last month, carmakers reported a 4.4% rise in dispatches from factories at 287,904 units, the highest on record for December..
Shashank Srivastava, senior executive officer (marketing and sales) at market leader Maruti Suzuki, said 2023 was a "phenomenal year" for the industry with sales breaking previous records every month through December..
"Sales were driven by a strong increase in demand for SUVs, which now account for nearly half of all vehicles sold in the domestic market," Srivastava said.. Maruti Suzuki - which registered cumulative sales (domestic and exports) of more than 2 million units for the first time in 2023 - has a share of over 20% in the SUV segment...
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