Passenger vehicle segment to see record 18-20% growth in FY24: Report
The Passenger Vehicles (PV) segment volumes are expected to log a record 18-20 per cent growth this fiscal as the pent-up demand levels off amid hike in vehicle prices, CareEdge said in a report on Tuesday.
It also projected the PV sales volume to continue this growth momentum in the next fiscal, driven by factors such as strong order book and improvement in supply chain, the credit ratings agency said.
The demand for premium variants is expected to remain healthy, while that of entry-level variants may remain muted due to high interest rates and an inflationary environment, according to CareEdge.
The Electric Four-Wheeler (E4Ws) segment — which contributes about 6 per cent to the total EV market sales — volumes have grown significantly in the past few years, it said.
Major Original Equipment Manufacturers (OEMs) have planned to introduce more EV models in the future, suitable for the domestic market that could boost their adoption and increase competition in the market, it …

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From a young age, I have always been drawn to the power of words and their ability to tell a story, convey emotions, and inspire change. Growing up in the USA, I was exposed to various cultures and experiences that shaped my perspective on life and ignited my passion for writing. As an avid reader and lover of language, I pursued a career as a content writer. I have honed my skills in crafting captivating stories with Tribune Insights, a leading media company in California. My job allows me to combine my love for writing with my interest in current events and news. I believe that hard work is the key to success, and I pour my heart into every piece of content I create. Whether it's an article on breaking news or a heartfelt personal essay, I strive to make a connection with readers through my words.

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