India’s Passenger Vehicle Market Registers 23% Year-On-Year Growth

India’s passenger vehicle market recorded sales of nearly 4.4 lakh units in May, registering a 23 per cent year-on-year growth. Highlighting the strong performance of the automobile sector, Commerce and Industry Minister Piyush Goyal, in a social media post, said the remarkable growth reflects robust consumer demand despite global uncertainties.

He said, the strong demand for Made-in-India vehicles underscores growing consumer confidence and a thriving manufacturing ecosystem. Mr Goyal added that the journey towards Viksit Bharat is being driven by innovation, enterprise and the aspirations of 140 crore Indians.