Car sales boom, highest ever monthly wholesales hit
The Business Guardian|February 03, 2024
The Indian auto industry witnessed a historic milestone in January 2024, recording its highest-ever monthly domestic passenger vehicle (PV) wholesales at 394,571 units.
Car sales boom, highest ever monthly wholesales hit

This surge is attributed to the growing demand for sport utility vehicles (SUVs) and the resolution of supply constraints. The figure represents a substantial 13.9% increase compared to January 2023 and surpasses the previous peak observed in October 2023, during the festival period, when domestic sales touched 391,811 units. 

SUVs have emerged as a driving force behind this robust performance, accounting for 50.1% of the automakers’ total sales during the April-January period of 2023-24. Shashank Srivastava, Senior Executive Officer of Marketing and Sales at Maruti Suzuki India (MSIL), noted that this marks the first time SUVs have surpassed the 50% mark on a cumulative basis, signifying a significant shift in consumer preferences.

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