Passenger car sales in May this year stood at 334,802 units as compared to 295,000 units in the same month last year, posting a growth of 13.5 per cent. It is the highest May sales since 2018-19 when the industry sold 301,238 units.

Retail sales in May 23 stood at 325,258 units as compared to 285,000 units in May 22, registering a growth of 14 per cent. However, retails lagged behind wholesales leading to an increase in inventory levels. At the beginning of May, stocks stood at 250,000 units while in June it stood at 262,000 units leading to 26 days of stock.

Maruti Suzuki India Limited sold a total of 178,083 units in May 2023. Total sales in the month include domestic sales of 146,596 units, sales to other OEM of 5,010 units and exports of 26,477 units.

Hyundai Motor India Ltd. (HMIL), registered domestic sales volume of 48,601 units and export sales volume of 11,000 units with cumulative sales of 59,601 units for the month of May 2023.

Tata Motors passenger cars and commercial vehicles sales stood at 74,973 units in May 2023 compared to 76,210 units during May 2022. The company sold 45878 units of passenger vehicles including EVs posting a growth of six per cent over May 22 sales of 43341 units in the domestic market.

Mahindra & Mahindra announced that its overall auto sales for the month of May 2023 stood at 61,415 vehicles.

Toyota Kirloskar Motor (TKM) achieves the highest-ever monthly cumulative sales of 20,410 units for May 2023 thus reporting growth of 110% over 10,216 units in May 2022.

TVS, Ather, Ola hike prices

New Delhi: Electric two-wheeler makers TVS Motor Company, Ather Energy and Ola Electric have increased the prices of their products as curtailed subsidy structure comes into effect from June 1.

In a statement, TVS Motor Company stated that to propel the electrification journey further in a sustainable manner after the FAME II scheme revision, it has increased iQube’s price between Rs 17,000 and Rs 22,000 depending on the variant. The iQube base and S trims were earlier priced at Rs 1,06,384 and Rs 1,16,886, respectively in Delhi.

“FAME II will gradually reduce over the next few quarters. The company will continue to deliver delightful product options and great value proposition to propel the electrification and green energy penetration in two-wheelers in the country,” TVS Motor company director and CEO K. N. Radhakrishnan said.

The company will offer a loyalty benefits programme for the customers of iQube, who have made bookings till May 20, 2023, for a limited period to ease the cost burden post the revision in FAME II subsidy, he added.

PTI