Domestic PV sales growth flat in April due to high base effect, polls

Passenger vehicle sales in India kicked off on a flat note in new fiscal 202425 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections.

Dispatches of passenger vehicles from manufacturers to dealers were at 3,38,341 units in April 2024 as compared to 3,32,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.

The flat growth witnessed in April is due to the high base that the industry had last year, coupled with the impact of ongoing general elections, Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Partho Banerjee told reporters in a virtual interaction.

"We have started on a very high base this year...Right now the country is going through elections and there is a model code of conduct...During the elections the markets are a little muted. Once elections are over, I think we will be seeing a different market," he said.