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Carmakers Ride to Record Domestic Sales
Mint Chennai
|January 02, 2025
SUV growth, rural demand played a key role in driving up car sales
Indian passenger vehicles market registered record wholesales of 4.3 million units in 2024, with companies such as market leader Maruti Suzuki, Hyundai, Tata Motors, Toyota Kirloskar Motor, and Kia posting their best-ever annual domestic sales.
The continued growth of SUVs, along with rural markets playing a key role in driving up car sales, helped the industry better the previous best of nearly 4.11 million units posted in 2023.
"Last calendar year, it was close to 41,09,000 lakh units, while 2024 is around 43 lakh units. So, it is the growth of around 4.5% to 4.7%," Maruti Suzuki India Ltd (MSIL) senior executive officer, marketing & sales, Partho Banerjee said when asked about overall passenger vehicle wholesales in 2024.
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