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CAR SALES REFLECT NEED FOR DEMAND BOOSTERS IN BUDGET
The Morning Standard
|January 04, 2025
CAR sales, a key indicator of overall economic demand, presented a mixed bag during calendar year 2024.
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Total retail sales grew 9 percent to touch a record 26.1 million units, surpassing the pre-pandemic peak of 25.4 million units in 2018. so, the industry made a full recovery from the lockdown slump. What’s unsettling is the performance of some sub-segments. Growth in passenger vehicle sales fell to a four-year low as car makers struggled to sustain the postpandemic growth momentum. Preliminary data shows passenger vehicle sales grew at 4.5-4.7 percent—the slowest rate in at least four years—to slightly over 4.3 million units. One could argue that the slowness was partly due to a relatively high base the year earlier. But what’s undeniable is that demand for cars priced under 10 lakh is moder
This story is from the January 04, 2025 edition of The Morning Standard.
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