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[PLUS] India’s car sales to sustain momentum in 2025

Despite a slowdown, the PV market in India has expanded at very healthy levels, with the year likely to close with sales of around 4.3 million units.

By Ketan Thakkar and Ashutosh Radhey Shyam

01 Jan 2025

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Sales Outlook for Various PV Segments for 2025

India, the world’s third-largest car market, is set to attain peak volumes of 4.25–4.3 million units in 2024, recording its fourth consecutive year of growth. However, the growth rate has significantly decreased given the high base of 2023, erratic rains in certain states, IT sector layoffs and that 2024 was an election year during which government spending slowed.

Industry participants and analysts have told Autocar Professional that the Indian passenger vehicle market will grow by 3.5–4.5%, making it next to only China in the world. In the first four months of 2024, it grew 7% as the supplies improved, ...

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