Shocking: The demand for Autos will stay steady in November 2023. The demand for personal mobility has remained very strong in November 2023 because the automakers are continuing production and dispatching the vehicles at a good healthy pace. It has been reported that the passenger vehicle production has grown by 3.9% in the last month YoY at 335,354 units which has a good pace of growth and it is slower if we compare it with October 2023 because the retail demand has soared ahead of the production and the monthly sales data was reported officially by the auto firms showed. Read this article till the end.
Some time ago there was a record-breaking festive season for the sales of passenger vehicles and also riding a strong double-digit recovery in two-wheeler sales. There is a demand for personal mobility which remains robust in the previous month because the automakers produced and also dispatched the vehicles at a good pace in a row. The production of passenger vehicles grew by 3.9% in November 2023 YoY at 335,354 units, It has been claimed that the pace of growth was a little bit slower as compare if we compared to October 2023 by 15.9% as the retail demand soared ahead of its production. The sales data for the month has been officially provided by the auto firms.
As per the provided data, the automakers took some major steps to manage the high stock levels as it got rationalized by the factory gate dispatches ahead of the upcoming year. The biggest vehicle company in the world, Maruti Suzuki has recently claimed that its domestic passenger vehicle wholesales in November improved by 1.7% Year on Year but on the other, the South Korean carmaker Hyundai Moto India domestic market grew by 3% in 2022 with the wholesale at 49,451 units.
Tata Motors’ sales of passenger vehicles were low by 1% year-on-year in the last month of this year with an increase of 7% in EV sales. The Mahindra & Mahindra cooked a 32% growth in the utility vehicle wholesales in November 2023. It relied on the improvement in the supplies and a powerful demand for the SUV in the market. Reports have shown that the SUV accounted for more than 53% of all the PV delivered to the dealers in November 2023. But for Hyundai the SUV composed 68% of its sales in November 2023. This was the biggest part because of the introduction of the micro-hatch Exter and also it has refreshed portfolio.