Full throttle ahead: FY24 roars to 4.23 mn PV sales, 4.15 mn in retail

Overall automobile registrations rose 10% in FY23; Hybrids caught up with EVs in FY23; Consumer preference for cleaner fuels grew

The demand for sport utility vehicles (SUVs) led passenger vehicle (PV) sales to a record 4.15 million in the retail segment and 4.23 million vehicle despatches in wholesales.

All 12 months in 2023-24 (FY24) were record months in terms of sales.

PV wholesales grew by 9 per cent year-on-year (Y-o-Y) while retail sales grew by 13.2 per cent.

Speaking to Business Standard, Shashank Srivastava, senior executive director, marketing and sales at Maruti Suzuki India (effective from April 1, 2024, he will be positioned as a member of the executive committee), said that of the past 22 months, 21 saw record sales numbers, indicating