Festive demand, better output drives PV sales
The overall passenger vehicle wholesales rose to 3.35 lakh units last month, up 3.9 per cent from 3.22 lakh units in November 2022.
NEW DELHI: Passenger vehicle (PV) dispatches rose to the highest-ever level for November month as the companies pushed supplies to dealers to cater to the enhanced demand in the festive season.
The overall passenger vehicle wholesales rose to 3.35 lakh units last month, up 3.9 per cent from 3.22 lakh units in November 2022.
“It is the highest-ever November wholesale figure for the passenger vehicle segment,” Maruti Suzuki India (MSI) senior executive officer (Marketing and Sales) Shashank Srivastava told reporters in a virtual call.
He noted that factors like enhanced demand during the festive period and better production due to the availability of electronic components played a role in robust wholesales last month. In November, MSI’s domestic passenger vehicle sales stood at 1,34,158 units last month as compared with 1,32,395 units in November 2022, a growth of 1.33 per cent.
Rival Hyundai Motor India said its domestic wholesales rose to 49,451 units last month, up 3 per cent from 48,002 units in the year-ago period.
Hyundai Motor India COO Tarun Garg said the growth momentum continued but as industry players undertake stock correction ahead of the year-end the wholesales are expected to taper down.
Mahindra & Mahindra said its utility vehicle dispatches stood at 39,981 units last month.
