New Delhi . Sales of passenger vehicles in India are expected to increase in the current financial year.
Giving information about this, Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra said, “Sales of passenger vehicles in India are expected to grow by 35 percent in the current financial year.”
Chandra says that there is no concern regarding economic indicators, in such a situation an estimated growth of 35 percent is expected in the sales of passenger vehicles.
If we look at the data of the first six months of 202425, there does not appear to be much growth in the wholesale sales of passenger vehicles. Wholesale sales of passenger vehicles rose 0.5% to 20.81 lakh units.
At the same time, sales of cars and SUVs declined by 1.8% in the second quarter of the current financial year. The decline in sales of cars and SUVs was due to decline in sales of hatchbacks and sedans.
SIAM hopes that the festive season will help in increasing sales with the launch of new cars.
Chandra says that there will definitely be a rise in sales during the second half. This rise is also expected to compensate for the stagnant growth in the first half.
Regarding electric vehicles, Chandra says that lack of infrastructure remains the biggest obstacle in the adoption of EVs. They call it a chicken and egg situation.
Taking his point further, Chandra says that now the focus is on removing obstacles like charging infrastructure.
He said, “The government has allocated funds to install 22,000 fast chargers for fourwheelers under the PM eDrive scheme. This is going to help. There are a lot of new launches, so customers have options of different brands, body styles which excites the market. Prices of EVs have fallen to a level where they are matching ICE vehicles with automatic transmissions. Driving range is also increasing. “Given that this is the technology of the future, shortterm hiccups aren’t really too much of a bother.”
He says that the price of batteries has decreased by more than 50 percent in the last two years. Due to this, there has been a decline in the price of EV. The price of EVs will come down further with cheaper battery cells, increased localization and scale.
In the second quarter of financial year 2025, there has been a decline of 11 percent in sales of commercial vehicles on an annual basis. There has also been a decline in the sales of passenger vehicles in the second quarter. Whereas, twowheeler and threewheeler sales have registered a strong growth of 12.6% and 6.6% respectively.
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Image Credit: KhasKhabar.