automobile sales

January 14, 2025 7:48 PM

India’s automobile sales hit record 2.5 crore units in 2024, marking 11.6% growth

India's automobile sales recorded an 11.6% increase in 2024, reaching an all-time high of 2.5 crore units compared to 2.3 crore units in 2023, as per data from the Society of Indian Automobile Manufacturers (SIAM). The surge consolidates India's position as the third-largest car market globally. "Stable macroeconomic conditions and positive consumer sentiment drove growth across all vehicle segments," said SIAM president Shailesh Chandra. The two-wheeler segment was the primary driver, growing...

India logs 9.1% jump in automobile sales in 2024 with growth in most segments

India's retail automobile sales witnessed a robust 9.1% growth in 2024, reaching 2.61 crore units, overcoming hurdles such as extreme weather conditions, elections, and uneven monsoons, according to data released by the Federation of Automobile Dealers Association (FADA). Segment-wise, two-wheeler sales registered a notable 10.7% increase, while three-wheelers grew by 10.4%, passenger vehicles by 5.1%, and tractors by 2.5%. However, the commercial vehicle segment remained nearly flat, with a ma...