New Delhi: After a double -point increase of 10 percent during FY 2024, the country’s vehicle sales are expected to increase by more than five percent to 2.6 crores by the end of FY 2025. For the first time in the financial year 2025, the sale of electric vehicle (EV) will also cross 2 million mark.
The month of March this year was a major setback, with a decline of about 14 percent (till March 30) in sales compared to the same month of the previous financial year. This information has been obtained from the data available on the vehicle portal.
According to the data, the sale of electric vehicles during FY 2025 first crossed the 2 million mark, which is 20 percent more than 1.6 million vehicles sold in FY 2024. In this financial year, the total vehicle sales were 2.59 crore by March 30, which will be 2.46 crore in 2023-24 and 2.23 crore in 2023-23. The auto industry expects a stable increase in major categories such as passenger vehicles in FY 26.
In the Society of Indian Automobile Manufacturers (SIAM) meeting last month, passenger vehicle companies agreed that sales could increase only by one to two percent in 2025-26. Sources in the passenger vehicle company said that it was due to weak demand, fall in sales of entry-level cars, inflation, devaluation of rupee against dollars and geopolitical uncertainties. The overall compound annual growth rate (CAGR) of the region is expected to be around four percent by 2030.
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