India's Auto Retail Grows 9.1% YoY in 2024 Amid Challenges

The Federation of Automobile Dealers Associations (FADA) reported a 9.1% year-on-year growth in India's auto retail sector for calendar year 2024, despite facing multiple headwinds. Strong demand from the rural market, driven by increased Minimum Support Prices for crops, significantly boosted sales across all vehicle categories. Notably, two-wheelers saw a remarkable rise of 36%, while passenger vehicles grew by 32%. This growth highlights the resilience of the automotive sector amid economic challenges and changing consumer preferences.

Source: NDTV