According to the most recent information provided by the Federation of Automobile Dealers' Association, the passenger vehicle segment in India experienced growth of 11% YoY and 16% when compared to the preceding month of February 2020. The introduction of new models, ongoing expansion of the car supply, a favourable booking-to-cancellation ratio, and, finally, weddings, all contributed to the growth.

The overall retail sale of vehicles increased by 16% year over year in February 2023. The 2-wheeler, 3-wheeler, passenger, tractor, and commercial vehicle categories all experienced double-digit increase, with the growth rates for each being 15%, 81%, 11%, 14%, and 17%, respectively.

“The month of February continued to witness a double-digit growth of 16% YoY, but was still down by -8%, when compared to the pre-covid month of February 2020. All categories also witnessed double-digit growth with 2-Wheeler, 3-Wheeler, Passenger Vehicle, Tractor, and Commercial Vehicles growing by 15%, 81%, 11%, 14%, and 17% respectively on a YoY basis. The Commercial Vehicle category has also shown robust growth by growing 17% YoY though it fell by -10% when compared to the pre-covid month of February 20. Walk-in inquiries improved during the month. Apart from this, demand has also increased dSales of passenger cars are up 11% year over year, with Hyundai and Maruti Suzuki continuing to lead the market: FADA

According to the most recent information provided by the Federation of Automobile Dealers' Association, the passenger vehicle segment in India experienced growth of 11% YoY and 16% when compared to the pre-covid month of February 2020. The introduction of new models, ongoing expansion of theue to changes in OBD norms which will see price hikes. On the government’s side, infrastructure spending has been healthy. This is also aiding better sales,” said Manish Raj Singhania, FADA President.

According to the most recent Federation of Automobile Dealers' Association (FADA) figures, Maruti Suzuki India and Hyundai Motor emerged as the top passenger vehicle sellers in February, however Hyundai Motor's market share decreased to 13.62% in February 2023 from 14.95% in February 2022.

In February 2023, Maruti Suzuki sold 1.18 lakh passenger vehicle units and held a 41.40% market share. On the other hand, Hyundai Motor sold 39,106 PV units and held a 13.62% market share in the same time frame. Hyundai sold 38,688 vehicles and Maruti Suzuki sold nearly 1.09 lakh in February 2022. In comparison to the 34,055 units sold in February 2022, Tata Motors sold 38,965 PV units and held a 13.57% market share. Its market share was 13.16% in February last year.

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