Car sales surge 55% in Q1, Scooters by 100%: SIAM
Two-wheelers have performed better than cars in Q1, as sales of scooters surged 100% to 1,207,903 units and sales of motorcycles surged by 38% to 2,405,228 units.
On Wednesday, July 13, the Society of Indian Automobile Manufacturers (SIAM) released the auto sales data for the first quarter i.e April- June.
As per the data, car manufacturers witnessed a surge of 54.7% in total domestic sales in Q1 of FY23. A total of 4,935,870 units were sold from April to June as compared to 3,190,202 units in the same quarter of FY22.
Despite a surge in sales, the car manufacturers are not happy with the results. In the first quarter of the fiscal year 2019-20, a total of 6,084,478 units were sold showcasing a decline of 19% when compared to the current fiscal year. Two-wheelers have performed better than cars in Q1, as sales of scooters surged 100% to 1,207,903 units and sales of motorcycles surged by 38% to 2,405,228 units.
Mr Rajesh Menon, Director General of SIAM has said that significant measures taken by the government to lower the excise duty on petrol and diesel have helped the car manufacturers. “The Indian Automobile Industry appreciates and thanks the government for these efforts. Industry also keenly looks forward to similar support on CNG prices which has seen exponential increase in the last 7 months. Support on CNG prices would help the common man, facilitate public transport and will enable a cleaner environment.”