Passenger vehicle (PV) manufacturers including Maruti Suzuki India, Hyundai Motor India, Kia India, Tata Motors, and Mahindra & Mahindra (M&M) have estimated market growth to be in the lowest digits for next fiscal year (2025-26). It’s there.
In fact, growth in the PV industry could decrease next year compared to the current fiscal year, where growth is around 4% year-on-year (Yoy).
Important Factors
On Wednesday at the 19th “back” conclave hosted by the Indian Association of Automobile Manufacturers (SIAM), the automaker discussed several reasons for presuming slow growth. These include still high reporate, depreciation of rupees leading to high costs of materials, and young buyers working for startups that cannot provide loans to car purchases and especially global factors. The development of the US market of uncertainty for future growth.
A source who is aware of the discussion at the meeting said BusinessLine Maruti Suzuki India (MSIL) forecasts growth of 1-1.5% next year. Tata Motors and Hyundai Motors were also growing at 1.5%, but Kia India said it expects growth of around 3% and Mahindra & Mahindra to grow at 5%. Luxury car manufacturer BMW Group India forecasts growth of 9% in 2025.
“Understanding customer purchasing power, production costs and customer needs are factors that have driven the growth of the Indian automotive industry. According to MSIL, Partho Banerjee, Marketing & Sales, Marketing & Sales, Partho Banerjee, He says so.
According to sources, Banerjee highlighted at the meeting that the number of MSIL’s first-time car buyers has now fallen to 42% from 52% four years ago.
assignment
“The Indian automotive market is navigating several challenges, including various geopolitical uncertainties that can affect the costs of raw materials, components and finished products. Stock market volatility is It can weaken investors’ trust and consumer sentiment and slow growth,” said Hardeep Singh Brar, senior vice president and national head sales and marketing at Kia India. BusinessLine.
Tapan Ghosh, Vice President of HMIL, said that Mobility-a-Service as a worker has significant growth potential as young people are moving from ownership to the usership model. Time Buyer Category. Also, the choice of sports utility vehicles (SUVs) continues in other categories, such as sedans and hatchbacks, he said.
“The rapid economic growth has led to an increase in customer aspirations. SUVs are the flavor of the season. First-time buyers also prefer SUVs,” added Ghosh.
Rajesh Menon, director of Siam, said: In addition to supporting industry sustainability initiatives, member Siam strives to boost car exports where there is a lot of headroom available. ”
