In 2022, the sales of domestic passenger vehicles (PV) in India increased by 23% to 37.93 lakh units to become the highest ever sales in the industry for a calendar year. Last year’s record sales beat the sales of 33.3 lakh in 2018.
The sales were led by Maruti Suzuki, Hyundai and Tata Motors, which recorded their best sales on the back of pent-up demand and better semiconductor chip supply. The 2022 sales are 23.1 per cent more than that of 2021. The 2022 figure is about 14 per cent higher than the previous highest.
The highest growth in annual domestic PV sales was witnessed by Tata Motors, Kia India and Toyota Kirloskar at 58.2 per cent, 40.2 per cent and 22.6 per cent, respectively, according to the companies’ data. The biggest carmaker of the country, Maruti Suzuki posted a 15.4 per cent growth in annual domestic PV sales at 1.579 million units. The manufacturers count wholesales, the units dispatched to dealers, as sales.
On the basis of price, about 40% of vehicles sold in the industry were in the bracket of Rs 10 lakh or above, the carmakers said in a statement.