Pune: After a record all-time high numbers in fiscal 2024, passenger vehicle wholesales during April grew marginally 1.76 per cent year-on-year at 3.38 lakh units due to high base of last year and.
Sales Of Large Utility Vehicles: While compact SUV models - defined as per body type and ground clearance - are driving the surge in the overall passenger vehicle market on account of their larger share in absolute terms, bigger UVs are fast catching up.
SUV Sales: India s preference for compact vehicles under 4 meters in length is declining, with their market share dropping from 62% in 2021 to 50% in 2023. The number of models in this segment has also decreased. Shifting consumer tastes, including a preference for larger vehicles, are prompting automakers to rethink strategies. The popularity of entry-level SUVs has grown, overlapping with premium hatches and sedans. New safety requirements and challenges in designing small cars are also affecting the market. Urban incomes and easy financing options are driving the trend towards premiumization.
Maruti Suzuki Q3 FY24 Sales: Total revenue from operations was up 14.56% at INR 33,512.8 crore as compared to INR 29,251.1 crore in the year-ago period, the company said.