Vehicle production volume in India FY 2023, by segment
In fiscal year 2023, around 19.5 million two-wheelers were manufactured in India, thereby being the leading type of vehicle to be manufactured in the country. This was followed by the passenger vehicle segment, with over 1.6 million units. In all, 25.9 million vehicle units were produced in the country. India is one of the largest automobile market in the world, and to further boost this sector, it was backed by strong government policies.