The retail sale of passenger vehicles in India is going to make a record in December. The reason for this is that at the end of the year, auto companies are offering bumper discount offers.
Image Credit source: Representational Image
The retail sale of passenger vehicles in India is going to make a record in December. The reason for this is that at the end of the year, auto companies are offering bumper discount offers. And in the coming days, the possibility of increase in the prices of the car is also being expressed. At the same time, dealers also want to clear the inventory before the emission norms become stricter. The data collected till Friday showed that the sales of passenger vehicles in December can achieve the figure of four lakhs.
Earlier the record was in December 2018
Earlier in December 2018, retail sales of passenger vehicles stood at 382,000 units, which was considered an all-time monthly record. According to the report, Shashank Srivastava, executive officer of Maruti Suzuki India, said that auto dealers have liquidated the stock ahead of the introduction of Real Driving Emission (RDE) on April 1, which has helped in reducing the showroom stock. He said that the discounts for some models have increased a lot. Because of this, in December 2022, retail sales of passenger vehicles can reach a record high.
At the same time, after recovering from the COVID-19 epidemic, the Indian vehicle industry is expected to maintain a steady pace of growth in the year 2023 despite rising costs and interest rates due to new emission and safety standards. The year ending 2022 has proved to be excellent for the Indian automobile industry.
Great sales this year too
The passenger vehicle (PV) category is poised to record record sales in 2022, despite the impact of supply chain constraints and semiconductor shortages. But two-wheeler sales haven’t seen a jump for most of the year.
According to the vehicle industry, this year the sales of passenger vehicles can reach around 38 lakh units. The three wheeler and commercial vehicle category has also seen good growth as compared to last year. Vehicle manufacturers would be eager to continue this momentum in the next year as well. According to industry experts, the year 2023 will also see a boom in the adoption of electric vehicles.