Record car sales in FY23: Maruti, Hyundai, Tata, Mahindra, Kia drive growth

The passenger vehicle (PV) phase witnessed its fine-ever overall performance at some point of a economic with volumes of 3,889,545 gadgets in FY23 as Maruti Suzuki India, Hyundai Motor India, Tata Motors, Mahindra & Mahindra and Kia India registered report income withinside the home market.

While the preceding fine of 3,377,436 gadgets got here in FY19, the PV phase clocked 3,069,499 gadgets in FY22. The FY23 income had been 15.16% better than in FY19 and 26.72% over FY22 volumes.

The biggest contribution to the PV phase in FY23 become made with the aid of using game application motors (SUVs), which accounted for 1,673,488 gadgets with a hefty 43.02% percentage.

For reference, the SUVs had a percentage of 23.19% in FY19 with volumes of 783,119 gadgets.

According to Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra, the steep increase witnessed with the aid of using the enterprise in FY23 become pushed with the aid of using post-Covid pent-up call for withinside the early a part of the year, the rlease of numerous new motors and the easing of the semiconductor shortage.

The country`s biggest carmaker, Maruti Suzuki India, published good-looking home PV volumes at 1,606,870 gadgets in FY23. It become observed with the aid of using Hyundai Motor India, which registered its fine-ever volumes at 567,546 gadgets withinside the home market.

Tata Motors carried on with its robust momentum because it clocked its highest-ever home PV income in a economic at 538,640 gadgets in FY23. Mahindra & Mahindra, which become at 323,256 gadgets in February, is anticipated to shut the economic on a excessive be aware with PV income of over 350,000 gadgets.

With the increase tale of Kia India persevering with each year, the carmaker recorded strong volumes of 269,229 gadgets in FY23, its fine overall performance to date.