The SUV segment made a huge impact in terms of sales in FY 23.
By Crox Times Desk: The passenger vehicle (PV) segment sudden boom over its best performance with a volume of over 38 Lakh units in FY23 as Maruti Suzuki India, Hyundai Motor India, Mahindra & Mahindra, and KIA India registered recording breaking sales in the domestic market.
The largest contribution to the PV segment in FY23 was made by SUVs (Sporty Utility Vehicles) which accounted for 14k units and an increase of 44%.
According to Tata Motors Passenger Vehicles Limited Managing Director Shailesh Chandra, “this growth was due to rising the demand post-covid.”
The country’s largest carmaker, Maruti Suzuki posted handsome domestic PV volumes at 16 Lakh Units in FY23. This was followed by its best volumes at 5 lakh units in the domestic market.
Tata Motors carried on with its strong momentum as it clocked the highest ever PV sales at 5,38, 640 units in FY23 and Mahindra and Mahindra which was at 3 Lakh units in February and it is expected to reach PV sales of over 350,000 units.