Auto sales rose 9% in 2024 on strong demand for two-wheelers: Fada

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Auto sales rose 9% in 2024 on strong demand for two-wheelers: Fada - Business Standard

Quick Summary:

Three-wheeler registrations also grew by 11 per cent, reaching 1,221,909 units, up from 1,105,942 in 2023.

The passenger vehicle (PV) segment benefitted from network expansion and new product launches, although it faced margin pressures due to higher inventory levels, which led to a discounting battle in the latter half of the year.

The two-wheeler segment saw growth fuelled by improved supply, new model introductions, and strong rural demand, although challenges like finance constraints and rising competition from electric vehicles (EVs) persisted.