In February-2023, automobile manufacturing companies in the country wholesaled about 2.92 lakh passenger vehicles. This is the highest ever sale for the month of February. The Society of Indian Automobile Manufacturers (SIAM) has released the sales report for February-2023 on Friday.

According to SIAM officials, rising demand for cars and utility vehicles has led to an increase in total passenger vehicle sales in February. It was told in the report that last month automobile companies had delivered 2,91,928 vehicles to the dealers. This is 11% more than the 2,62,984 vehicles delivered in February-2022. At the same time, there has been a growth of 8% in two-wheeler sales.

SUV demand increased
Whereas passenger vehicle sales increased to 1,42,201 units in February-2023. A year ago, 1,33,572 vehicles were sold in the same month. Similarly, sales of utility vehicles, including sports utility vehicles (SUVs), increased to 1,38,238 units from 1,20,122 units in the previous month.

Maruti sold the most vehicles
Maruti Suzuki India (MSI) delivered 1,02,565 vehicles to dealers in February-2023. This is 3 percent more than the 99,398 vehicles of February-2022. Whereas Hyundai (HMI) sold 24,493 vehicles in the month of February-2023. The company had sold 21,501 vehicles in the same month last year.

Sales of two-wheeler and three-wheeler vehicles also increased
Similarly, two-wheeler sales also increased by 8% to 11,29,661 units in February-2023. Last year, 10,50,079 two-wheelers were sold in the same month. Bike sales in February-2023 have also increased from sales of 6,58,009 units in the same month last year to 7,03,261 units. Similarly, scooter sales have increased from 3,56,222 units to 3,91,054 units. Three wheeler sales have increased by 86 percent to 50,382 units.

Demand for vehicles increased due to positive sentiment in the market
SIAM Director General Rajesh Menon said that this is the highest ever sales of passenger vehicles in February. SIAM President Vinod Agarwal said that positive sentiment prevails in the market. It is also inspired by the encouraging announcements in the Union Budget (2022-23) for consumers.