Chennai: The growth in two-wheeler sales is not keeping pace with the sales growth logged by passenger vehicle and three-wheeler segments, said a top official of Society of Indian Automobile Manufacturers (SIAM).
Referring to the January 2023 sales data of automobile manufacturers, Vinod Aggarwal, President, SIAM said: “Better consumer sentiments is driving demand for passenger vehicles. Three-wheeler segment has gained traction compared to the past two years, though they are still to reach the pre-Covid levels. The rate of growth of two-wheelers in the recent year has not kept pace with the growth in the other segments.”
He said, positive announcements in the Union Budget for 2023-24 should help in continuing with the overall growth momentum.
According to SIAM, last month the passenger vehicles (cars, utility vehicles and vans) makers sold 2,98,093 units (2,54,287 units sold in January 2022) while sales of three-wheelers shot up to 48,903 units (24,178 units).
The two-wheeler industry sold a total of 11,84,379 units last month (11,40,888 units).
–IANS