Passenger vehicle wholesales surged to a record high in October riding on robust festive season demand, auto industry body SIAM said on Friday.

The overall passenger vehicle dispatches to dealers last month rose 16 per cent year on year to 3,89,714 units as compared to 3,36,330 units in October 2022.

Similarly, the three-wheeler segment also witnessed the highest ever monthly dispatches in October at 76,940 units, a growth of 42 per cent over 54,154 units in the year-ago period.

"Both passenger vehicles and three-wheelers have posted the highest ever sales of October, while the two-wheeler segment has also posted good sales in the month of October 2023," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said.

All the three segments have posted double-digit growth and this growth momentum is encouraging for the industry which has been enabled by sustained conducive policies of the government and the ongoing festive season, he added.

Total two-wheeler sales rose to 18,95,799 units in October, a 20 per cent increase from 15,78,383 units in the same month last year.

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