TL;DR
India's automotive market is experiencing a significant and sustained demand surge across cars, two-wheelers, and commercial vehicles, supported by strong festive momentum.
India's automobile market is currently experiencing a robust and broad-based demand upcycle across passenger vehicles, two-wheelers, and commercial vehicles. An Emkay Research report highlights that this simultaneous growth across major vehicle segments has persisted for several months, a trend not observed by dealers in over a decade, indicating a structural rather than just a festive-driven upswing.
Commercial vehicles remain the strongest segment, benefiting from a healthy freight and business environment, allowing manufacturers to implement price increases without significantly impacting demand. Festive demand, particularly for events like Ganpati in Maharashtra, has also strengthened, with bookings up by over 50% compared to the previous year. Passenger vehicle demand remains healthy, with renewed interest in small and entry-level cars due to lower prices, and Maruti Suzuki reporting a 25-30% order book growth.
