Passenger vehicle sales may hit record 38,000 units this fiscal

18 Nov 2022 CW Team

Passenger vehicle sales in India could hit a record of over 380,000 units in FY23, but the strong growth momentum is not expected to carry over to 2023-24, with pent-up demand already been released, according to Tata Motors Passenger Vehicles managing director Shailesh Chandra.

There could be a moderation on offtake of passenger vehicles (PVs) in the third quarter of the ongoing fiscal, picking up again in the fourth quarter, but the growth rate in FY24 would also depend on the impact of a new set of regulations such as BS VI phase II and new safety regulations kicking in next year, he told analysts.

The first half of FY23 was very strong for the PV industry with nearly 1.9 million vehicles sold, said Chandra, who is also the managing director of Tata Passenger Electric Mobility Ltd.

“Typically, you would see a 48:52 kind of a ratio between H1 and H2. This time, you're going to see nearly 50:50 kind of a ratio. So, it's going to be a very strong year, highest-ever industry volumes is what we are going to witness in this financial year, possibly going up to 3.8 million-plus,” he said.

In 2021-22, according to the Society of Indian Automobile Manufacturers (SIAM), PV sales in India were at 30,69,499 units. The record for highest PV sales in India was in 2018-19 when 33,77,436 units were sold.

Infrastructure Urban

08 Oct 2025

Euro Panel Launches SolidAl, A Fire-Safe Aluminium Facade

Euro Panel Products Ltd, the parent company of EUROBOND—one of India’s leading metal composite panel brands—has launched SolidAl, a fully solid, PVDF/FEVE-coated, non-combustible aluminium panel that expands its portfolio of premium façade solutions. The new product aligns with modern industry needs for safety, durability, and sustainability, marking a significant step forward in contemporary architectural materials.Manufactured from high-grade aluminium alloys (3003/5005/5052), SolidAl is available in 2 mm, 2.3 mm, and 3 mm thicknesses, offering exceptional strength, longevity, and ver..

Parsvnath, Unity Group Open Luxury Mall ‘Unity One Elegante’

Parsvnath Developers Limited, one of India’s leading real estate and infrastructure companies, has announced the completion of its luxury shopping mall, ‘Unity One Elegante’, located at Netaji Subhash Place, Delhi. The project has been developed through Unity Parsvnaths LLP, a joint venture between Parsvnath Developers and Unity Group.The company has received the Occupancy-cum-Completion Certificate from the Delhi Development Authority (DDA), confirming that construction of the mall is complete. The facility is set to open and become operational soon.Developed on 28,400 square metres of ..

Balu Forge Starts Precision Machining Line In Belgaum

Balu Forge Industries Ltd (Balu Forge), a precision engineering firm specialising in forged and machined components, has commenced operations of its new precision machining line at the company’s manufacturing campus in Belgaum, Karnataka. The facility features 7-Axis and 11-Axis CNC machines, marking one of the first such advanced installations in the region.The new line significantly enhances Balu Forge’s ability to deliver high-precision machining solutions for critical sectors such as railways, defence, aerospace, and other precision industries. It enables the manufacture of complex com..