PV sales growth likely to be below 5% in FY25: Siam

The flat sales of passenger vehicles (PVs) in the first half of 2024-25 came as a "slight surprise" for the automobile industry, but it is expecting a rebound in the second half due to the festival season, Shailesh Chandra, President, Society of Indian Automobile Manufacturers (Siam), said on Monday.

- DEEPAK PATEL

Chandra said that the PV industry is expected to post a growth of "sub 5 per cent" in financial year 2024-25 (FY25).

Siam revealed on Monday that in the H1 of FY25, the domestic wholesales (dispatches to dealers) of PVs recorded a marginal increase of 0.53 per cent year-on-year (Y-o-Y) to 2.081 million units.

"The triangulated view at the beginning of the fiscal year was 5-8 per cent growth. The expectation for H1 was slightly better. It was a slight surprise, especially May and June, which did not go as per our expectations. May and June affected us badly," said Chandra, who is also the Managing Director of PV and electric vehicle (EV) divisions of Tata Motors.