Automobile Industry: 2.7 crore vehicles made in India in a year, know which segment has the highest demand
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Vehicles In India : The automobile industry in India is growing continuously. According to a report, even during the financial year 2023, crores of vehicles were manufactured in the country. We are telling you that during the financial year 2023, how many vehicles were manufactured in the country and which segment’s vehicles were in highest demand. The domestic vehicle industry produced a total of 2.7 crore vehicles worth $ 108 billion (about Rs 8.7 lakh crore) under various vehicle segments and types in the financial year 2022-23. In this, the share of passenger vehicles by value was 57 percent. Giving this information in a report, management advisory firm Primus Partners said that in the last financial year, the share of commercial vehicle segment in total vehicles was 10 lakh vehicles, whose value was about Rs 1.7 lakh crore.
According to the report, in the last financial year, a total of two crore two-wheelers were produced in the country, which is about 77 percent of the total vehicles. At the same time, in terms of value, the share of Rs 1.8 lakh crore two-wheeler segment has been 21 percent. During this period, about 1.9 crore people got employment in the country’s automobile industry. The report says that the mid-size and full-size SUV sub-segments accounted for more than half of the passenger vehicle segment in terms of value. The compact SUV sub-segment also contributed 25 per cent to the total vehicle value. At the same time, vehicles in the luxury segment have contributed Rs 63,000 crore to the value.
According to the report, cheap ‘mini’ cars and sedan cars are not being liked much in the Indian market, due to which their share has decreased. As far as battery-powered vehicles are concerned, a major part of it has been seen in the two-wheeler and three-wheeler segment only. The report says that the Indian EV industry is lagging behind leading markets such as China, the US and the European Union, but with huge investments in this segment, there are positive signs for the future. (courtesy of input language)
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