DRIVEN BY ROBUST demand for sports utility vehicles (SUV), passenger vehicle (PV) sales dispatches from manufacturers to dealers in December stood at 320,000 units, up 14% year-on-year, marking a strong end to 2024.
Of the five leading automakers Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, and Toyota Kirloskar which reported their sales number on Wednesday, only Hyundai reported a decline of 1.3%, while Tata Motors reported a low single digit growth of 2%.
For the 2024 calendar year, PV sales reached approximately 4.3 million units, up 4.8% from 4.1 million in 2023. The SUV segment has been instrumental in this growth, with its share of total PV sales climbing to over 55% at the end of December compared to less than 50% at the end of March this year.
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