India’s 2023 Car Sales Surge: Exceeding 4 Million Vehicles on Roads

Car Sales in India Drive Past 4-Million Mark in 2023

The Indian automotive industry achieved a significant milestone in 2023, with passenger vehicle sales crossing the 4 million units mark, marking a new record. This growth represented an 8% increase compared to the previous year, signifying the robust performance of the sector. Notably, the SUV segment accounted for the largest share of the car market at 48.7%.

The surge in sales was primarily driven by the increasing demand for SUVs, reflecting evolving consumer preferences and the growing popularity of this vehicle segment[4]. The industry’s performance in 2023 demonstrated its resilience and potential for further expansion.

The achievement of this milestone underscores the significant growth and potential of the Indian automotive market. The industry’s ability to surpass the 4-million mark in car sales in 2023 reflects a positive trajectory and sets the stage for continued development and innovation in the sector.

Source – indiatoday