This milestone follows two consecutive years of double-digit growth, with sales climbing from 24 million units in 2023.
Industry experts, however, predict a subdued 2025: Passenger vehicle (PV) sales are expected to grow in low single digits, two-wheeler sales are projected to rise by 6-8 per cent, and tractor sales are anticipated to grow by 3-5 per cent. Commercial vehicle sales, meanwhile, will likely depend on government infrastructure spending.
Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said the industry remains "optimistic" about PV growth in the new calendar year.
Data from the VAHAN portal (Ministry of Road Transport and Highways) showed that total new vehicle registrations were 24.16 million in 2019, 18.6 million in 2020, 18.9 million in 2021, and 21.5 million in 2022.
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