New Delhi, April 15 -- India's passenger vehicle market achieved unprecedented sales of 4.3 million units in the financial year 2024-25, setting a new record according to data released by the Society of Indian Automobile Manufacturers (SIAM). This represents a 2 percent growth compared to the previous fiscal year.

Utility Vehicles (UVs) continued to be the primary growth driver in the passenger vehicle segment, with their market share expanding to 65 percent in FY 2024-25, up from approximately 60 percent in the previous year.

SIAM noted that new model launches featuring modern designs and advanced features attracted more buyers, while attractive discounts and promotional campaigns helped sustain demand.

The passenger vehicle sector al...