The rise of the SUV segment, preference for alternative fuels / EVs, increased vehicle connectivity and digitalized customer experience are a few interesting trends that are seen due to changing consumer demands, in the passenger vehicle space in India.
The festive seasons usually bring in as much as 25-30% of annual sales for passenger vehicle OEMs making it one of the most exciting times of the year. This year, sales are expected to be 20% higher for the festive season y-o-y and there is positive sentiment among the stakeholders.
In the below section, we have discussed how the passenger vehicle space is trending in India, key growth drivers for OEMs, and how the onset of the festive season impacts sales
The passenger vehicle segment is here to stay and is showing signs of gradual recovery. Onset of festive season is expected to further increase sales of passenger vehicles. The Indian automotive industry promises exciting times ahead
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