Indian auto market sees 2% rise in vehicle sales; SUVs continue to dominate

economictimes.indiatimes.com:

Automakers had sold 332,468 passenger vehicles a year ago in April 2023. Car sales had grown by 9.5% to 368,086 units a month before in March 2024. But even while the growth rate moderated last month, on a high base, in terms of absolute volumes April was the 16th straight month that automakers in the local market clocked best-ever monthly sales.

Partho Banerjee, senior executive officer (marketing and sales) at the country’s largest carmaker Maruti Suzuki said, “We have started this year on a high base. Compared to last year when supplies were disrupted due to the semi-conductor crisis, there is more stock in the network now. There is also some uncertainty due to the ongoing elections. Once the new government is formed, and policies are announced, there will be more certainty in the market. But overall, car sales are expected to grow in single-digits in FY25.”

Automakers in India reported bumper sales two straight years on back of pent-up demand post the pandemic, growing by 8.4% to its highest-ever mark at 4.22 million units in the financial year concluded March 31, 2024 and by 27% to 3.89 million units the previous financial year.
In Tarun Garg, Chief Operating Officer (COO), said, “Bookings and enquiries are at similar levels as last year. With pent-up demand now gone, sales are coming in from fresh enquiries and by converting them into bookings.”
At Maruti Suzuki, sales increased marginally to 137,952 units last month, compared to 137,320 vehicles sold in April 2023. Korean rival Hyundai too saw volumes