Steady demand pushes domestic PV sales up 17.4% in Jan despite price hikes

The auto industry sold 346,000 units this January, compared to 295,000 a year ago

Domestic passenger vehicle (PV) sales jumped by 17.4 per cent year on year (YoY) to about 346,000 units in January, as demand remained steady despite price hikes by several automobile firms.

In January 2022, about 295,000 PVs were sold in the country. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Ltd, said, “The industry began with a low network stock (dealership stock) because of high retails in December, and this depleted inventory pipeline was filled with higher wholesales for the month."

The depleted inventory resulted in slightly muted retail sales, taking the network stock up to 184,000