Passenger vehicle sales in India saw an increase of 10.3 percent in financial year 2024, recovering from intermittent disruptions caused by supply chain issues specific to semiconductors and electronics. In the same year, there were around four million passenger cars sold across the South Asian country. In 2020 and 2021, the industry was heavily affected by the coronavirus pandemic.
Even though the two-wheeler segment experienced a boom in both electric and conventional vehicle sales, the economic slowdown with the impact of the coronavirus pandemic has affected the production in all industries alike. The slowdown forced manufacturers to lay off almost 15 thousand employees in the past and over 200 thousand jobs were affected as a result of the output cuts. The government announced a delayed registration period for purchased vehicles and reduced interest rates on vehicle loans to cope with the market slump. However, as India's economy recovers, vehicle sales have also come out of the slump.
Sales volume of passenger vehicles across India from financial year 2014 to 2024
(in millions)
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Autocar Professional. (April 7, 2024). Sales volume of passenger vehicles across India from financial year 2014 to 2024 (in millions) [Graph]. In Statista. Retrieved December 02, 2024, from https://www.statista.com/statistics/916519/india-passenger-vehicles-sales-volume/
Autocar Professional. "Sales volume of passenger vehicles across India from financial year 2014 to 2024 (in millions)." Chart. April 7, 2024. Statista. Accessed December 02, 2024. https://www.statista.com/statistics/916519/india-passenger-vehicles-sales-volume/
Autocar Professional. (2024). Sales volume of passenger vehicles across India from financial year 2014 to 2024 (in millions). Statista. Statista Inc.. Accessed: December 02, 2024. https://www.statista.com/statistics/916519/india-passenger-vehicles-sales-volume/
Autocar Professional. "Sales Volume of Passenger Vehicles across India from Financial Year 2014 to 2024 (in Millions)." Statista, Statista Inc., 7 Apr 2024, https://www.statista.com/statistics/916519/india-passenger-vehicles-sales-volume/
Autocar Professional, Sales volume of passenger vehicles across India from financial year 2014 to 2024 (in millions) Statista, https://www.statista.com/statistics/916519/india-passenger-vehicles-sales-volume/ (last visited December 02, 2024)
Sales volume of passenger vehicles across India from financial year 2014 to 2024 (in millions) [Graph], Autocar Professional, April 7, 2024. [Online]. Available: https://www.statista.com/statistics/916519/india-passenger-vehicles-sales-volume/