SUV drives PV sales growth to 8.4% in FY24: SIAM
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.
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.
However, long-term fundamentals remain positive, with expectations of a post-election rebound as underlying industries resume tender processes.
The three-wheeler sales in the electric vehicle segment are estimated to rise to 35% to 40% by FY30 as the product gains more acceptance and financing-related challenges subside.