Last financial year Rs. Vehicles worth 9 lakh crores were produced

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Mumbai: In the financial year 2023, the Indian automobile industry has produced a total of 2.70 crore vehicles worth Rs 8.70 lakh crore. In the overall value of these vehicles, the largest figure was the off-road vehicles with a share of Rs 5 lakh crore or 57 percent.

Apart from this, the number of commercial vehicles like small four-wheelers carrier vehicles, tractor trailers, tippers stood at ten lakhs with a total value of Rs 1.70 lakh crores.

Commercial vehicles accounted for 4 percent of the total volume of vehicles while their share in terms of value was 19 percent. The production of two wheelers in the country was almost as high as that of China. In the last financial year, the total number of two-wheelers that rolled out of production in the country stood at two crore units, which was about 77 percent of the total number of vehicles.

The value of two-wheelers was Rs 1.80 lakh crore, which is 21 percent of the overall value, the report further stated.

About 1.90 crore people were employed in the country's auto industry last financial year.

Two-wheelers and three-wheelers are the largest in the production of electric vehicles in India. Although India lags far behind in the production of electric vehicles compared to countries like China, America and Europe, the report notes that the country is making huge investments in this sector, which indicates that India will show significant growth in the electric vehicle segment in the coming years. Automobiles of India The industry is on the verge of a massive overhaul. Electrification, clean energy, increased use of electronic equipment and the spread of private taxis are bringing about a massive change in the country's auto industry.


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