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Indian Automotive Market Analysis: FY2024-25

FY25 saw SUVs continue to increase their dominance over the Indian PV market, with M&M cornering 53% of incremental volumes.

By Niranjan N Prabhu

30 Apr 2025

8721 Views

Indian Automotive Market Analysis: FY2024-25

The Indian automotive market experienced modest growth of 2.5% in FY2024-25, with wholesale volumes reaching 4.32 million units compared to 4.22 million in the previous financial year. This growth story, however, masks significant contrasts between segments and manufacturers, revealing a market in transition. The financial year has been characterized by considerable back-and-forth between OEMs and dealers, with many struggling to clear inventory backlogs.

Key Highlights:

SUVs continued their dominant position with an impressive 11.6% growth
Mahindra emerged as the standout performer, contributing 53% of the industry's total growth
Traditional body styles (sedans and hatchbacks) saw ...

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