India's passenger vehicle sales up by 28 per cent in November 2022
Society of Indian Automobile Manufacturers (SIAM) has released monthly sales numbers for Indian vehicles. As mentioned in the report, Indian passenger vehicles (PV) registered sales of 2,76,231 units, reporting a 28 per cent growth in November 2022, compared to 2,15,626 units sold in the same period of 2021.
India PV sales in November 2022
The 2,76,231 units sold in the previous month comprised 1,30,142 units of passenger cars, 1,38,780 units of utility vehicles, and 7,309 units of vans. Between April and November 2022, domestic PV sales stood at 25,04,084 units, compared to 18,29,693 units in the same period last year. On the other hand, the passenger vehicle export sales rose by 22 per cent to 53,959 units, against 44,265 units exported in November 2021. However, sales data from BMW, Mercedes-Benz, Tata Motors, and Volvo Cars India is unavailable, said SIAM.
Top-selling carmakers in November 2022
Maruti Suzuki India Ltd emerged as the top passenger vehicle seller, followed by Hyundai Motors India Ltd and Mahindra & Mahindra Ltd in the previous month. Maruti sold 1,32,395 units, while Hyundai logged sales of 48,002 units. Notably, Mahindra sold 30,392 units in November. Kia Motor India, Toyota Kirloskar Motor, and Honda Cars India were also among the best-selling brands.
According to SIAM, passenger vehicles witnessed the highest-ever sales in FY 2022-23 until November this year. It further said that higher interest rates and an increase in long-term insurance premiums continue to be a concern for customers.