Best ever sales of passenger vehicles, three-wheelers in October on the back of festive demand
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New Delhi. Wholesale sales of passenger vehicles reached a record level in October on the back of strong demand for the festive season. Vehicle manufacturers’ organization SIAM gave this information on Friday. Retail sales in October increased by 16 percent year-on-year to 3,89,714 units. In October 2022 it was 3,36,330 units. Similarly, in the three-wheeler segment, the highest monthly supply so far in October was 76,940 units.
This number is 42 percent higher than last year, when 54,154 units were supplied. Vinod Aggarwal, president of Society of Indian Automobile Manufacturers (SIAM), an organization of automobile manufacturers, said, “Both passenger vehicles and three-wheelers have recorded the highest sales so far in October. The two-wheeler segment also recorded good sales in the month of October 2023.
He informed that all three segments have registered double digit growth and this growth pace is encouraging for the industry. This has been possible due to the favorable policies of the government and the festive season. Total two-wheeler sales increased by 20 percent to 18,95,799 units in October from 15,78,383 units in the same month last year.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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