Car sales in India set to grow 10% year-on-year in first half of 2023

This is a significant milestone, as it would mean that India's car market is now among the top three in the world.

There are a few factors that are driving this growth. First, the Indian economy is doing well, and people have more disposable income to spend on cars. Second, there have been a number of new car launches in India recently, which has helped to stimulate demand. Third, the government has been providing incentives to buyers of electric cars, which has also helped to boost sales.

In the first half of 2023, car sales in India are expected to grow by 10% year-on-year. This would mean that the market would sell around 2.05 million cars in that period. The biggest growth is expected to come from the entry-level and mid-segment car segments.

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The two companies that are expected to lead the growth in car sales in India are Maruti Suzuki and Hyundai. Maruti Suzuki is the market leader in India, and it is expected to sell around 1 million cars in the first half of 2023. Hyundai is the second-largest car company in India, and it is expected to sell around 500,000 cars in the same period.

The growth in car sales in India is a positive sign for the economy. It shows that people are confident in the future, and they are willing to spend money on big-ticket items like cars. This is also good news for the automotive industry, as it will help to create jobs and boost economic growth.

Here are some additional details from the news articles you linked:

• The June quarter is typically the strongest quarter for car sales in India, and this year is expected to be no different.
• Shashank Srivastava, Senior Executive Director, Marketing and Sales at Maruti Suzuki India, said that the company expects to grow sales by 2.5% in June.
• The increase in car sales is being driven by a number of factors, including a strong economy, new car launches, and government incentives for electric cars.
• If the current trend continues, India could become the third-largest car market in the world by 2025.