India’s Auto Sector Booms: The Indian Automobile Sector experienced huge growth in 2024, with sales increasing by 9.1 %. This growth is due to the heavy demand for two-wheelers and passenger vehicles in India.
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India’s Auto Sector Booms
Indian Auto Sector sees 9.1 % sales growth in 2024. Also increasing demand for Two wheelers and a passenger vehicle, is also caused by the launching of new models. According to the Federation of Automobile Dealers Associations (FADA).
India’s Auto Sector Booms: Key Growth Drivers
- Two Wheelers: Two wheelers significant growth by new model launches, and strong rural demand.
- Passenger Vehicle: passenger vehicles got huge growth also driven by new model launches. However, Margin and competition from EVs posed challenges.
- Economic Recovery: The growing Indian Auto Industry can also contribute to the recovery Indian economy.
Segment-Wise Growth Performance
- Two Wheeler: Two-wheelers Led the growth by an 11% increase in sales.
- Passenger Vehicles: Its growth by 5 % driven by SUVs and New model launches.
- Commercial Vehicles: Due to factors like election-driven uncertainty and reduced infrastructure spending.
Sales In December 2024
Comparatively Previous year declined 12 % of sales in December 2024.Two-Wheeler Sales Decline in December. Impact of High Inventory and Competitive Market These options are more human-friendly and easier to read while still conveying the key information about the decline in two-wheeler sales.
🚨 India’s auto retail sales zooms 9% in 2024!
— DILEEP KUMAR 🇮🇳 (@aapkadilipgupta) January 7, 2025
💠2W: +10.8% YoY at 1.89Cr units
💠3W: +10.5% YoY at 12.2L units
💠4W: +5.2% YoY at 40.7L units
💠Truck & Bus: +0.1% YoY at 10L units
💠Tractor: +2.6% YoY at 8.9L units
💠Total sales: 2.61Cr units in 2024, up from 2.39Cr units in… pic.twitter.com/wYioHaedZj
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗