The passenger car sales figure in India is expected to cross the mark of two million in the first half of 2023. The analysis by ETIG concludes the newly launched models by various automotive brands in the country are the reason behind this historical sales data. This half-year sales data from India is equivalent to full-year sales of many countries like Mexico, Australia, and Indonesia. Shashank Srivastava, SEO, Marketing, and Sales from Maruti Suzuki India expects growth of 2.5 Percent this June. Which means sales of nearly 3,25,000 to 3,28,000 units. Last June the number of units sold was 3,21,000. “We expect the industry to end the June quarter at around 996,000 units. The fourth quarter of FY23 saw dispatches of 1,017,000 units, said Srivastava. “Both combined means the industry would breach the 2 million mark in the first half (January to June) of any year for the first time. Shashank Srivastava, also mentioned that the demand for new models has remained strong, leading to 8 percent bookings in June. Also, the inventory of slow-moving models has increased. “Our network stock on June 1 was 127,000 units. It’s likely to be lower by the month- end, he said. Overall the passenger car market in India is expected to grow 10 Percent Year-on- Year in the first half of 2023. This will be the third consecutive period to score double-digits on the sales sheet. Domestic Car sales grew 16 percent in the first half of 2022 and 30 Percent in the second half. (ICE NEW DELHI)

Fonte notizia: The Economic Times