In March, Indian auto sector saw a 3.14% YoY growth with two-wheeler and three-wheeler sales surging, while passenger vehicle and commercial vehicle sales declined.
Indian auto sector saw a 3.14% YoY growth in March, driven by a 5% and 17% increase in two-wheeler and three-wheeler sales respectively. The overall growth in sales, however, was partially offset by a 6% decline in passenger vehicle sales and a 6% decline in commercial vehicle sales. EV sales increased, contributing to a 9.12% market share of the two-wheeler segment. The retail sales of all vehicle categories combined grew by more than 3% to 21,27,177 units in March. In the financial year 2024, auto sales achieved a 10% on-year growth, with two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles all experiencing growth.
April 08, 2024
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