Car Sales in India Hits Record Volume in FY24-25

As per the from the industry body society of Indian Automobile Manufacturers (SIAM), the passenger vehicles PV segment clocked its highest-ever annual domestic volumes at 43,01,848 units in FY24-25, which is a new record for PV sales in India. PV sales in FY 24-25 registered a growth of 1.97% year-on-year (y-o-y) over 42,18,750 units sold in FY23-24.

High base effect of FY24 did result in moderate growth in FY25, however, utility vehicles continued to drive demand, contributing 65.02% to PV wholesales in FY25. In an official statement, SIAM said that new model launches resonated strongly with consumer aspirations. Also, attractive discounts and promotional offers supported growth momentum and helped sustain volumes.

As per SIAM data, top 5 carmakers in FY25 for domestic sales were Maruti Suzuki India, Hyundai Motor India, Tata Motors, Mahindra& Mahindra and Toyota Kirloskar Motor respectively. Maruti Suzuki India sold 17,60,767 units of PV in FY25.

In FY25, India had its best-ever annual PV exports, at 7,70,364 units, which grew 14.62% y-o-y from 6,72,105 units during the previous fiscal. Growth in exports is mainly due to Indian car models demand in Latin America and Africa.