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After 3 yrs of challenges, auto sector may see double-digit growth in FY23

Industry insiders, analysts say SUVs to lead the charge among cars, two-wheelers to make strong comeback

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Morgan Stanley’s Singh believes that two-wheeler sales will see significant recovery of 16 per cent YoY growth in FY23 and 13 per cent in FY24 after a prolonged slowdown

Shally Seth Mohile Mumbai
After negotiating some tight corners over the last three years, India’s automotive market is poised for single to double-digit growth across segments – from commercial vehicles (CVs) and tractors, to passenger vehicles and two-wheelers – as demand and supply-side problems even out. 

While CVs are expected to benefit from strong replacement demand, the two-wheeler and tractor segments are expected to gain from a recovery in the rural economy.

PV sales, which have remained range bound because of the semiconductor shortage despite robust demand, too, are expected to advance at a fast clip and will be the first to return to the peak

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First Published: Jun 16 2022 | 7:24 PM IST

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