November sees a sequential drop in car sales
Sales increased by over 4% month over month from 3.22 lakh units in November 2022 on an annual basis.
NEW DELHI: When comparing October 2023 sales to November 2023, there was a decrease in passenger vehicle (PV) sales (manufacturer dispatches).Automakers decreased stocking dealer showrooms as the holiday season came to an end in the first half of last month, coinciding with a decline in consumer enthusiasm in making a purchase.
Industry leaders released data showing that PV wholesale sales decreased to 3.35 lakh units in November from 3.91 lakh units sold in October. However, compared to 3.22 lakh units in November 2022, sales in November 2023 increased by about 4% on an annual basis.
The biggest automaker in India, Maruti Suzuki (MSIL), saw a decline in wholesale sales from about 2 lakh vehicles (including exports) in October 2023 to 1.64 lakh units in November 2023. From 168,047 units in October 2023 to 134,158 units in November 2023, its domestic PV sales decreased. It saw a decline in all segments, including micro, compact, and the rapidly expanding SUV market.
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