New Delhi: The economy of the country (India) is growing at the speed of a rocket and with it the sale of vehicles is also seeing a lot of increase. Passenger car sales will cross 20 lakh units in the first half of the year. This will be the first time that passenger car sales will cross two million units in the first six months of the year. According to the information, more than three lakh cars are being sold every month. That means more than 10,000 cars are being sold in the country every day. The number of cars shipped in half a year in India is equal to the annual sales of countries like Mexico, Australia and Indonesia. If this growth continues in the second quarter of every year, India will become the third largest car market in the world.
- Sales of 10,000 cars per day in the country crossed 20 lakhs in six months
Currently, China is number one and America is number two
Car sales are expected to touch 325,000 to 328,000 units by June, said Shashank Srivastav, senior executive officer (marketing and sales) at Maruti Suzuki India, the country’s largest auto maker. Which is 2.5 percent more than the same period last year. In the first half of last year, the company sold 321,000 cars. Total industry sales are expected to be 996,000 units in the June quarter, he added. The figure was 1,017,000 units in the fourth quarter of FY2023. If both the quarters are combined, this figure will cross 20 lakh units. For the first time, car sales will reach this level in the first half of the year.
60 to 70 lakh passenger car sales in the country by 2030
The country’s passenger car market is expected to grow by 10 percent in the first half of 2023 compared to last year. This will be the third consecutive half when car sales have seen double-digit growth. It grew by 16 percent in the first half of the previous calendar year and 30 percent in the second half. Auto companies estimate that passenger car sales in the country are expected to touch 60 to 70 lakh by 2030. Indian car market sales have doubled in 12 years. This year, monthly car sales are estimated to exceed three lakh units. If this growth continues in the second half of the year, India will become the third largest car market in the world. The country currently has 35 cars per 1,000 people. This is less than half the emerging market average.