Production volume of vehicles India FY 2011-2023, by segment
one of the leading countries in the world in terms of vehicle production. In financial year 2023, the total production volume of vehicles in India was around 25.93 million units, which was an increase from the previous year. In 2020, the production value contracted the first time during the presented period. This was partially due to the introduction of the new Bharat Stage VI (BS-VI) emissions standards from April 1, 2020, and overall scaled down production to lower stock of the old BS-IV vehicles. Further decline in production was contributed by the coronavirus pandemic in India.
India was