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India's rapidly growing auto market is poised to hit a milestone, with projections indicating it will reach USD 300 billion by 2026. This growth is fueled by various factors, including rising income levels, urbanization, and a burgeoning middle class with increasing purchasing power. India's rapidly growing auto market is poised to hit a milestone, with projections indicating it will reach USD 300 billion by 2026.
In March 2024, the Indian auto industry produced a total of 2,325,959 units, covering Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycles. HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now! Passenger Vehicles accounted for 368,086 units, Three-wheelers saw 56,723 units, and Two-wheelers dominated with 1,487,579 units sold during the domestic sales for the month of March.
Read More: Sai Swami Metals & Alloys IPO: Date price and much more - check now During the first quarter of 2024, the industry produced a total of 7,394,417 units, spanning Passenger Vehicles, Commercial Vehicles, Three-wheelers, Two-wheelers, and Quadricycles. Passenger Vehicles recorded 1,135,501 units, Commercial Vehicles reached 268,294 units, Three-wheelers stood at 164,844 units, and Two-wheelers maintained a strong performance with 4,503,523 units sold during Domestic sales for January to March 2024. For the financial year from April 2023 to March 2024, the Indian automotive industry reported a total production of 284,347,742 units.
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