The Indian Auto Retail sector achieved a 27% YoY growth in April 2024, with the combined March-April period showing a 14% YoY increase.
The two-wheeler (2W), three-wheeler (3W), passenger vehicle (PV), tractor (Trac), and commercial vehicle (CV) segments grew by 33%, 9%, 16%, 1%, and 2%, respectively.
Comparing combined March and April 2024 with the same period last year shows a 14% YoY growth for the entire industry.
The industry remains cautiously optimistic due to rising interest in new models and strategic planning, but careful monitoring of election-related uncertainty and financial challenges is crucial to navigate the evolving market.
The article originally appeared on Business Standard.
