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Society of Indian Automobile Manufacturers (SIAM) has said that passenger vehicle wholesales surged to a record high in October 2023 riding on robust festive season demand. The overall passenger vehicle dispatches to dealers in October 2023 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 2023 at 76,940 units, a growth of 42 per cent over 54,154 units in the year-ago period. Total two-wheeler sales rose to 18,95,799 units in October 2023, a 20 per cent increase from 15,78,383 units in the same month last year.

SIAM President Vinod Aggarwal has said that 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. He added that 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.