The domestic PV wholesales of the Indian auto industry stood at 1.322 million units in the April-July period of 2024-25, recording an increase of just 1.8 per cent year-onyear (Y-o-Y), amid low demand.
"We have been in the industry for so many years. We all talk about how the CAGR (compound annual growth rate) has been five per cent for the last five years. In such a situation, when you see a growth of 23 per cent and eight per cent Y-o-Y, some kind of moderation is very natural. I don't think we should worry too much about that," Garg told reporters after launching the facelift of its three-row sport utility vehicle (SUV) Alcazar.
In 2022 and 2023, the domestic sales of PVs had increased by 23.1 per cent and 8.3 per cent year-on-year (Yo-Y), respectively.
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