Indian auto industry poised to reach USD 300 Billion by 2026; Revving up for innovation and expansion
New Delhi, April 27 -- India's rapidly growing auto market is poised to hit a milestone, with projections indicating it will reach USD 300 billion by 2026. This growth is fueled by various factors, including rising income levels, urbanization, and a burgeoning middle class with increasing purchasing power.
In March 2024, the Indian auto industry produced a total of 2,325,959 units, covering Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycles.
Passenger Vehicles accounted for 368,086 units, Three-wheelers saw 56,723 units, and Two-wheelers dominated with 1,487,579 units sold during the domestic sales for the month of March.
During the first quarter of 2024, the industry produced a total of 7,394,417 units, spanning Passen...
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