Retail sales of passenger vehicles in India rose 10% in July to 320,129 units, driven by new models and discounts. Two-wheeler sales grew 17%, while commercial vehicles increased by 7%. However, high inventory levels pose a risk to dealer sustainability, and tractor sales declined by 12%.

While commercial vehicle, two-wheeler, and three-wheeler shipments saw declines, passenger vehicle exports managed a marginal growth of 1.4% in FY24. Maruti Suzuki led the passenger vehicle segment with significant exports, followed by Hyundai Motor India, Kia Motors, Volkswagen India, Nissan Motor India, and Honda Cars.