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Summary:

India's passenger vehicle (PV) segment grew significantly in 2024, with total sales hitting 4.3 million units, a 4.2% rise from 2023. Utility vehicle sales drove this growth, jumping 17% to 2.7 million units, while passenger car sales dropped 14.4% to 1.37 million. In December, PV sales rose 10%, boosted by discounts to clear inventory before the new year.

 

SIAM President Shailesh Chandra emphasized that strong consumer sentiment and stable economic conditions boosted India's auto industry. Two-wheelers grew by 14.5%, and threewheelers saw a 6.8% rise. In Q3 FY25, passenger vehicles, commercial vehicles, and threewheelers reached record sales, with passenger vehicles up 4.5%. Despite a December dip in two-wheeler sales, Q3 showed resilient growth, promising a bright future.

 

Source: IBEF

 

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