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Following the relaxation of production restrictions, domestic passenger vehicle (PV) sales in February 2023 amounted to 3. 35 lakh joint, marking an expansion of 10. 6% compared to 3. 03 lakh sets shipped in February last year. Wholesale sales of the two-wheeler segment have seen an improvement due to last year’s weak base and expected demand from the wedding season. Commercial cars posted healthy growth supported by customer demand and tractors posted double-digit expansion thanks to forward sentiment.
The Noida-based company, formerly known as Motherson Sumi Systems, reported a consolidated profit of 4540 crore ($55. 03 million) for the quarter, up from 2450 crore a year earlier.