In February, India's domestic passenger vehicle sales increased by 11% to 3.7 lakh units, driven by utility vehicle demand and Q3 2023-24 GDP growth.

In February, India's domestic passenger vehicle sales increased by 11%, reaching a record 3.7 lakh units, according to the Society of Indian Automobile Manufacturers (SIAM). This growth is attributed to strong demand for utility vehicles and the robust GDP growth in Q3 of 2023-24. Two-wheeler sales also rose by 35% to 15.2 lakh units, while three-wheeler dispatches increased to 54,584 units. Commercial vehicles saw slight negative growth during this period.

March 12, 2024
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