Indian car-makers cruising in top gear

The Indian automobile industry continues to accelerate at a rapid pace. The strong momentum witnessed in FY23 (highest-ever passenger vehicles sales) has seamlessly transitioned into the first quarter of FY24, evident in the Q1 FY24 performance of four-wheeler car manufacturers. Q1 sales volume of four-wheelers in India The PV segment has continued to grow in double-digits in FY24 Segment June 2023 June 2022 YoY (%) Passenger vehicle 4,14,055 3,69,154 12.2 Commercial vehicle 8,079 10,817 -25.3 Exports 63,218 69,437 -8.95 Total 4,85,352 4,49,408 8 The stellar performance in Q1 FY24 Most leading Indian car-makers recorded a massive PAT jump in Q1 Company name Revenue growth(%) PAT growth (%) YTD return(%)