In May, automobile sales slowed down due to heatwaves, election uncertainties, and a high base effect. Maruti Suzuki s sales grew 4.4% year-on-year, but this was lower than the 13.8% growth seen in May 2023. Hyundai Motor India and Tata Motors also saw modest growth, while Mahindra and Mahindra and Toyota India experienced significant increases in sales. Industry leaders expect a sales rebound post-election and with a good monsoon forecast. The auto sector s growth aligns with India s 8.2% GDP rise in 2023-24.
Bengaluru-headquartered Difacto will use the funds to expand across sectors such as cars, home appliances and electronics, as investment and volume in manufacturing go up.
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