The Indian PV market registered wholesales of 42,18,746 units in FY24
This marked an 8.4% YoY growth over the FY23 wholesales numbers
In FY23, PV wholesales in India were 38,90,114 units
This growth in PV sales is attributed to the rapidly surging demand for SUVs
SUVs registered a 25.8% sales growth in last fiscal over the FY23
SUVs sold 25,20,691 units in FY24 across India
In the FY23, SUVs registered 20,03,718 units
While SUVs and crossovers registered growth, entry-level cars continued to face challenge in India in FY24
Sluggish rural economy growth directly impacted entry-level car sales in India