Performance of Indian Auto Industry in 2023-24
Production
The industry produced a total of 2.84 Crore vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycles in FY 2023-24, as against 2.59 Crore vehicles in FY 2022-23.
Domestic Sales
Total Passenger Vehicle Sales increased from 38.90 Lakh in FY 2022-23 to 42.19 Lakh units in FY 2023-24. Utility Vehicles from 20.04 Lakh to 25.21 Lakh units and Vans from 1.39 Lakh to 1.49 Lakh units. While Sales of Passenger Cars decreased from 17.47 Lakh to 15.49 Lakh units in FY 2023-24 as compared to the previous year.
The overall Commercial Vehicles sales increased from 9.62 Lakh to 9.68 Lakh units. Sales of Medium and Heavy Commercial Vehicles increased from 3.59 Lakh to 3.73 Lakh units while sales of Light Commercial Vehicles decreased from 6.03 Lakh to 5.95 Lakh units in FY 2023-24 as compared to the previous year.
Sales of Three Wheelers increased from 4.89 Lakh to 6.92 Lakh units in FY 2023-24 as compared to the previous year.
Two Wheelers sales increased from 1.59 Crore to 1.80 Crore units in FY 2023-24 as compared to the previous year.
Exports
In FY 2023-24, Passenger Vehicle Exports increased from 6.63 Lakh to 6.72 Lakh units, while Commercial Vehicle Exports decreased from 0.79 Lakh to 0.66 Lakh units. Three-Wheeler Exports decreased from 3.66 Lakh to 3.00 Lakh units. Two Wheelers Exports also decreased from 36.52 Lakh to 34.58 Lakh units over the same period last year.