Given its importance to economic growth, the Indian automobile industry has always been a reliable gauge of the state of the country’s economy. India is a significant vehicle exporter as well, and its exports are expected to rise significantly in the near future. In June 2024, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles was 23,36,255 units. The Indian passenger car market was valued at US$ 32.70 billion in 2021, and it is likely to reach US$ 54.84 billion by 2027, registering a CAGR of over 9% between 2022-27.
During September 2024, the auto players posted mixed numbers, wherein a few two-wheelers recorded growth in sales, and car makers delivered mixed numbers
Total Sales (September 2024) | Total Sales (September 2023) | YoY% | |
Four Wheelers | |||
Maruti Suzuki India Limited | 1,84,727 | 1,81,343 | 2 |
Tata Motors Ltd | 69,694 | 82,023 | -15 |
Mahindra & Mahindra | 87,839 | 75,604 | 16 |
Two Wheelers | |||
Bajaj Auto | 4,69, 531 | 3,92,558 | 20 |
TVS Motors Company Ltd | 4,82,495 | 4,02,553 | 20 |
Hero MotoCorp | 6,37,050 | 5,36,499 | 19 |
Trucks & Buses | |||
Eicher Motors Ltd | 7,322 | 6,965 | 5.1 |
SML Isuzu Ltd | 1055 | 872 | 21 |
Ashok Leyland | 16,041 | 18,093 | -12 |
Escorts Kubota Ltd | 12,380 | 12,081 | 2.5 |
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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