In September 2022, the wholesale volume of passenger cars in India stood at 310,000 units, up 92% year-on-year. In addition, in addition to the increase in passenger car sales, two-wheelers also increased by 13% year-on-year to 1.74 million units, motorcycles increased by 18% year-on-year to 1.14 million units, and even bicycles increased from 520,000 units in the previous year to 570,000 units. For the entire third quarter, passenger vehicles increased by 38% year-on-year to 1.03 million units in the third quarter. Similarly, the total sales of two-wheelers reached 4.67 million units, an increase of 13% year-on-year, and the total sales of commercial vehicles increased by 39% year-on-year to 1.03 million units. 230,000 vehicles.

Such a high growth rate may be related to the local Diwali festival. Indian Diwali, also known as the Festival of Lights, Indian Festival of Lights or Deepavali, is regarded by Indians as the most important festival of the year, as important as Christmas and New Years.

Recently, while the production and sales of motor vehicles in India have increased significantly, it has also led to an increase in the consumption of local polyurethane raw materials. A series of products such as sponge seat cushions, door inner panels, and instrument panels on motor vehicles all rely on the import of polyurethane raw materials. For example, in September this year, India imported 2,140 tons of TDI from South Korea, a year-on-year increase of 149%.

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