In 2024, car sales in India crossed 40 lakh for the first time, with a total of 40.73 lakh cars sold, marking a 5.18% increase compared to 2023. According to the Federation of Automobile Dealers Associations (FADA), two-wheeler sales also saw a 10.78% rise, reaching 189 lakh units, compared to 171 lakh in 2023. However, two-wheeler sales are still below pre-COVID levels, when the sales hit a record 210 lakh units.
Sales Increased Despite Challenges
Commercial vehicle sales remained stable. FADA President CS Vigneshwar mentioned that despite challenges like extreme heat, elections, and uneven rainfall last year, the total vehicle sales increased by 9.11%. The growth in car sales was mainly due to network expansion and new models, along with a discount war in the market.
Expectation of 45 Lakh Car Sales This Year
The automotive industry expects car sales to reach around 45 lakh units this year, and two-wheeler sales are also expected to surpass pre-COVID levels, with an increasing share of electric vehicles.
In December 2024, two-wheeler sales saw a year-on-year decline of 17.64%, and a significant 54.21% drop compared to November. While 26.15 lakh two-wheelers were sold in November, this dropped to 11.97 lakh in December.
