The automotive sector experts predicting a notable increase in car sales compared to the previous year. Statistics indicate an 8.3 percent surge in car sales in 2023, with a particular shift in consumer preferences towards SUVs. maruti Suzuki has maintained its dominance in the market, emerging as the top-selling car company. Other major players like Hyundai, Tata Motors, and toyota also feature prominently in the market. mahindra cars are experiencing substantial demand.

In terms of pricing, the average cost of a car is expected to rise from Rs. 10.58 lakhs in 2022 to Rs. 11.5 lakhs in 2023. The SUV segment has witnessed a remarkable 26 percent increase in sales, constituting 48.7 percent of total car sales compared to 42 percent in the previous year. Hatchback model cars have seen a modest increase from 34.8 percent to 38 percent in sales. Conversely, the sales of sedan cars are anticipated to decrease from 11 percent to 9.4 percent in 2023.

Furthermore, the export of cars from india to foreign countries is predicted to rise, with 2.69 lakh units exported in the previous year. Overall, 2023 is expected to be a prosperous year for the automotive sector, marked by increased sales and changing consumer preferences.
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Sindujaa D N

03/01/2024 05:54 PM