![Passenger vehicle sales drop 1% in May](https://images.assettype.com/fortuneindia%2F2022-02%2Fe8ae38a6-5d58-4580-8687-4d2d9e399298%2FCar_Sales.jpg?rect=0,136,2700,1350&w=300&q=95)
Passenger vehicle sales drop 1% in May
Due to the extreme heat which broke records, the number of walk-ins to showrooms dropped by around 18%.
Due to the extreme heat which broke records, the number of walk-ins to showrooms dropped by around 18%.
In FY24, the sales of utility vehicles witnessed a growth of 25.8% year-on-year to 25,20,691 units as against 20,03,718 units in FY23.
Passenger vehicle volumes could grow 5%-8% in FY25, as the pent-up demand normalises, says rating agency
Two-wheeler EV sales surged due to the expiration of the FAME 2 subsidy on March 31.
India's largest carmaker Maruti Suzuki clocks highest-ever sales in FY24
The domestic wholesales of two-wheeler manufacturers including electric vehicles grew by 26.2% YoY to 14,95,183 units against 11,84,376 units in the same period last year.
The passenger vehicles witnessed a marginal dip in exports in the December quarter to 1,69,463 units as against 1,70,458 units in the same period last year.
In December, the domestic passenger vehicle sales crossed the 4 million units mark led by robust sports utility vehicle (SUV) sales
The auto market showed consistent demand for luxury cars and SUVs, signifying a robust consumer appetite for premium segments, says FADA.
It is alarming that inventory levels have exceeded the 60-day supply for the first time, says FADA.