Utility Vehicle Sales

The Indian automobile industry grew 19 per cent to Rs 10.22 lakh crore in FY24 driven by a robust growth in the utility and sports utility vehicle (SUV) segment, a report said on Wednesday. The volume grew by 10 per cent during the year, the report by management consulting firm Primus Partners said. A notable shift in the UV and SUV segment was that the volume increased by 23 per cent and price by 16 per cent leading to overall value increase by 39 per cent last fiscal year. The average price increase in this segment was due to general rise in prices, shift to higher segment, shift to hybrid and automatic, popularity of sunroof and shift to electric vehicles (EVs), it said. Indians are preferring higher, more expensive models across segments, and the average price of vehicles is increasing, as per the report. "India is at the forefront in leading the global automobile race, bypassing lower-priced products and creating more value in feature-rich, higher-priced vehicles. Consumer ..

The export growth has been led by companies like Hyundai Motor India Ltd (HMIL), Honda Cars India, and Volkswagen India, the data showed.

Industry expects 'continued growth', cites economic environment and upcoming festive season

Utility vehicles (UV), among the fastest-growing segments, saw a 22.3% rise in sales at Maruti Suzuki India and 62.2% at Mahindra and Mahindra

Revival in tractors, improvement in supply, and margin gains are other key triggers for the auto major

Overall car sales, however, dropped 22%: Siam data

Jan-Mar sales slip 4%, national volume up 15%