India’s Automobile Sales Results in 2022

India’s automobile sales in 2022 (wholesale data by SIAM) reached a record high of 4,725,469 units, up 25.7% year-on-year. Supply disruptions due to shortages of parts, mainly semiconductors, have not been completely resolved, but the situation has eased and backorders have been eliminated. In addition, new SUVs launched by Tata Motors, Mahindra, Maruti Suzuki, Toyota, and others in 2021 and 2022 have significantly boosted demand.

Sales of CNG and electric vehicles, which the Indian government aims to popularize, have also increased. Looking at light motor vehicle sales (new registration data by MoRTH), CNG vehicles went up 52.9% to 323,472 units, surpassing 300,000 units for the first time. HEVs (including MHEVs) rose 55.5% to 188,898 units while BEVs surged 2.7-fold to 33,077 units.