Car sales likely to cross 2 million in first half of this calendar year
Car sales are expected to reach 325,000 to 328,000 units by June, said Shashank Srivastava, senior executive officer (marketing and sales) of the country’s largest auto maker Maruti Suzuki India. This is 2.5 percent more than the same period last year. In the first six months last year, the company sold 321,000 cars. Total industry sales in the June quarter are expected to be 996,000 units, he said. In the fourth quarter of the financial year 2023, this figure was 1,017,000 units. If both the quarters are combined then this figure will go beyond 20 lakh units. For the first time, car sales will reach this level in the first six months of the year.
Where will be the market by 2030
The country’s passenger car market is expected to grow by 10 percent in the first half of 2023 as compared to last year. This will be the third consecutive half when there will be double digit growth in car sales. In the first half of the last calendar year, it had increased by 16 percent and in the second half by 30 percent. Auto companies estimate that by 2030, the sale of passenger cars in the country is estimated to reach 60 to 70 lakhs. Indian car market sales have doubled in 12 years. This year, the sales of cars every month are estimated to be more than three lakh units. If this growth continues in the second half of the year as well, then India will become the third largest car market in the world. There are currently 35 cars per 1,000 people in the country. This is less than half the average for emerging markets.
