In FY24, the auto sector struggled with sluggish demand recovery as total industry sales dipped by 6%, reaching 151,983 units. The industry saw muted sales throughout the year. Total industry sales remained subdued despite a low base effect caused by supply chain challenges and plant shutdowns from the previous year, resulting in a weak recovery. INDU reported total sales of 31,104 units, marking a 33%YoY decrease. However, SAZEW 4-wheeler sales reported at 5,374 units in FY24.

Total industry sales reached 17,717 units in June 2024, marking a 24% increase compared to the earlier month. Major improvement in volumes were witnessed by Passenger cars. Auto sales saw a monthly increase, yet the sector is anticipated to require additional time for complete recovery.

According to a report by AKD Securities, higher prices and financing rates dampen........

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