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Passenger vehicles sales hit record in FY25, two-wheeler sales jump 9.1%

16-Apr-25 12:28 Hrs IST

India’s automobile sector recorded excellent performance on the whole in the financial year ending March 2025, with passenger vehicle sales hitting a record 4.3 million units, according to the latest data from the Society of Indian Automobile Manufacturers (SIAM). The overall industry grew 7.3% in domestic sales, continuing its upward trajectory. Exports rose by 19.2%, reflecting strong global demand. Performance was driven by healthy demand, infrastructure investments, supportive Government policies, and continued emphasis on sustainable mobility.

Passenger Vehicles (PV) segment posted its highest ever sales in FY 2024-25 of 4.3 million units, with a growth of 2% as compared to FY 2023-24. High base effect of FY 2023-24 resulted in moderate Growth. Utility Vehicles (UVs) continued to drive growth, now contributing 65% of total PV sales compared to about 60% in FY 2023-24. New model launches, packed with advanced features and modern design, resonated strongly with consumer aspirations. Passenger Vehicles also saw their highest ever exports in FY 2024-25 of 0.77 million units registering a growth of 14.6% as compared to FY 2023-24.

Two-Wheelers sales were at 19.6 million units, registering a good growth momentum of 9.1% in FY 2024-25 over FY 2023-24. Improved rural demand and resurgence in consumer confidence is helping the segment to recover. Growth is led by scooter segment due to improved rural and semi-urban connectivity and availability of newer models with enhanced features. The share of EVs in overall Two-Wheelers have crossed 6% in 2024-25. In FY 2024-25, Two-Wheeler exports registered a good growth of 21.4% as compared to the previous year with a total of 4.2 million units.

Three-Wheelers posted its highest ever sales in FY 2024-25 of 7.4 Lakh Units with a growth of 6.7% as compared to previous year, surpassing the previous peak of FY2019. Growth is primarily driven by the demand of Passenger sub-segment. Three-Wheeler exports grew by 2.3% in FY 2024-25 as compared to FY 2023-24 with exports of 3.1 Lakh units.

Commercial Vehicles experienced a slight de-growth of (-) 1.2% in FY 2024-25 compared to previous year. However, last quarter of FY 2024-25 posted a growth of 1.5%. Though the overall trucks segment has witnessed a slight de-growth, but the requirement of freight movement has been suitably served with fleets migrating towards higher GVW vehicles. Exports of Commercial Vehicles posted a good growth of 23% in FY 2024-25 as compared to previous year with exports of 0.81 Lakh units.