The year 2024 has begun with a robust sales growth in Passenger Vehicles (PV). The Indian automobile industry has recorded PV sales of 3.93 lakhs in Jan-24 and 3.71 lakhs in Feb-24
In Jan-24, PV sales are up by 31.86% compared to Jan-23, while Feb-24’s PV sales show a growth of 27.01% over Feb-23🔼
If Feb-24’s PV sales are assumed to remain consistent in Mar-24, the annual PV sales number for the FY 2023-24 is expected to surpass the 42-lakh mark
The rising trend in PV sales indicates a significant recovery from the decline in PV sales experienced a couple of yrs ago due to the covid
With a positive outlook on the auto industry, despite the higher base, the industry expects a 3-5% growth in FY 2024-25’s PV sales
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