Passenger Vehicle Demand in India: According to a news from Economic Times, this time in India, in the first half itself, the sale of cars crossed the figure of 20 lakhs. Which has been seen for the first time in any calendar year. In which new models launched by automobile companies played a special role.

Selling such a huge number in just half a year by Asia’s third largest economy is equal to the number of vehicles sold in a whole year in countries like Mexico, Australia and Indonesia.

The Indian passenger car market is expected to grow by a flat 10 percent in the first half of 2023 itself. Which will be the third consecutive half, in which there will be double digit growth in sales. Whereas before this, an increase of 16 percent has been seen in the first half of the year 2022 and 30 percent in the second half.

Only China and US ahead

Looking at the passenger vehicle sales figures in India, especially in the second half of last year, India has emerged as the world’s third largest car market in 2023.

Expected to reach 6-7 million by 2030

At the same time, it is expected that by 2023, the number of vehicles sold in India can reach 6-7 million. Which is the estimate being made by the car manufacturers.

took more than 12 years

It has taken more than 12 years to double the sales in the Indian car market. While it took about 5 years to touch the sales figure of 10 lakh vehicles in the domestic market. Which was completed in June 2010.

More than 3,00,000 vehicles sold every month

This is the first time that the number of vehicles sold every month in India has crossed 30,0000 units.

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