PVs in top gear as rural growth back on track; inventory levels decline

OEMs feel consumption in this segment will continue to grow this year

Rural growth in passenger vehicles (PVs) is back in 2025 with rural retail sales in January clocking an 18.75 per cent growth.

 

Moreover, with single-digit growth in PV dispatches in January — when overall retail growth was a strong 15.5 per cent year-on-year (Y-o-Y) — the inventory levels of top original equipment manufacturers (OEMs) have come down too.

 

For example, Maruti Suzuki India (MSIL), the country’s largest PV player, now has only 18-20 days of dealer inventory.

 

A senior company executive said the rural market saw growth towards January 2025 — rural sales grew by 15.5 per cent last month.