The Indian car market saw 3.6 million units being sold in the fiscal
The new record surpassed the previous best of 3.2 million units sold in FY19
The PV segment grew by 22 per cent year-on-year in FY23, as per FADA
One of the big factors for this growth is new and updated models
New launchedscreated a big buzz, leading to a positive sentiment among buyers
Easing of semiconductor shortage increased manufacturing capabilities
This increased availability of car units to dealers and customers
Rising popularity of SUVs among Indian car buyers is a big positive
A positive customer sentiment towards cars is another factor