Indian Automotive Industry Witnesses Record Sales in 2024

The Indian passenger vehicle market achieved record sales in 2024 with a staggering 43 lakh units sold. Major automotive brands like Maruti Suzuki, Hyundai, Tata Motors, and Toyota Kirloskar Motor posted their best-ever annual domestic sales. The rise of SUVs and strong rural markets were key factors driving this growth.

The Indian passenger vehicles market has hit new heights in 2024, registering record wholesales of 43 lakh units. Leading companies including Maruti Suzuki, Hyundai, Tata Motors, and Toyota Kirloskar Motor reported their highest-ever domestic sales during the year.

SUV popularity and expanding rural markets played pivotal roles in boosting car sales, surpassing the previous year's best of 41.1 lakh units in 2023. Maruti Suzuki led the charge, breaking its six-year-old record with wholesale figures of 17,90,977 units.

Notably, Hyundai and Tata Motors also reported record sales owing to the robust SUV demand and a focus on emission-friendly vehicles. The overall passenger vehicle industry is optimistic, expecting continued growth powered by these trends.

(With inputs from agencies.)