FY25 likely to see single-digit growth on high base, loan rates
CLOCKING A RECORD 1 million sales every quarter, the passenger vehicle (PV) industry is set to end FY24 on a robust note with total volumes of over 4.23 million units,making the country the third-biggest market in the world.
With an average of one new launch every week across segments and price points, including new variant additions, Indian car buyers saw around 60 product introductions during the fiscal. Almost all of these launches carried a price tag north of ₹10 lakh, further highlighting the shift in consumer choice in a market long regarded as price-sensitive.
Shashank Srivastava, senior executive officer, marketing and sales, Maruti Suzuki said: "The PV segment will most likely end March at 375,000 or so,against 336,600 of last year in the same month. With that, the year will close at 4.23 million against 3.89 million units."
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