Milestone 4.5M: Passenger vehicle sales set to rev up beyond December quarter record
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The surge in demand comes along with a notable shift in pricing dynamics driven by the growing trend of premiumisation in the market, industry experts said.
Luxury cars are set to command an average price tag of ₹1 crore this year, up from ₹90.11 lakh in 2024, data collated by automotive analytics firm Jato Dynamics shows. Similarly, the average retail price of mass-market cars is expected to climb to ₹13 lakh from ₹11.64 in 2024.While the demand for SUVs is expected to remain strong in the new year, industry is also expecting a revival in demand for entry-level small cars, following the spurt in two-wheeler sales in recent months.
«OEMs (original equipment manufacturers) are carefully navigating the balance between enhanced features and affordability,» said Ravi Bhatia, president of Jato Dynamics.
The Indian passenger vehicle industry is undergoing a transformation from being a volume-driven market to a value-driven one amid changing consumer preferences and stricter regulatory standards.
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