India produces 2.7 cr vehicles, valued at USD 108 bn in FY23
The Indian automobile industry produced 2.7 crore vehicles worth around USD 108 billion in FY23, with passenger vehicles accounting for 57% of the total value. The commercial vehicle segment produced 10 lakh vehicles, generating a value of INR 1.7 lakh crore. Two-wheelers accounted for 20 million units, 77% of the volume share.
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