NEW DELHI, June 28 (Xinhua) -- The Indian automotive industry produced nearly 27 million vehicles across different segments and types, worth around 108 billion U.S. dollars in the fiscal year 2022-23 (April 2022-March 2023), a report said on Wednesday.
Passenger vehicles (PVs) accounted for over 57 percent of the value, while two-wheelers made up almost 75 percent of the volume, according to a report released by a management consulting firm Primus Partners.
There were also 1 million commercial vehicles (CVs). The automotive industry employed nearly 19 million people, it said.
The report highlighted the dominance of mid-size and full-size SUVs in the PV segment and noted significant investments in electric vehicles (EVs), suggesting an increase in the EV market.
The report said the automobile industry is undergoing transformative changes driven by factors like electrification, electronic components, autonomous technology, and shared vehicle services. ■
