New Delhi, April 14 -- Indians bought 41.53 lakh cars in the last financial year - the highest-ever sales in any fiscal year - with annual volumes staying above the 40-lakh mark for the third consecutive year. Rising incomes, an expanding middle class, and rapid urbanisation have been key drivers behind the steady growth in passenger vehicle sales in Asia's third-largest economy.

Within the passenger vehicle segment, sports utility vehicles (SUVs) have emerged as the top choice among millennials. Known for their versatile performance and commanding road presence, SUVs have overtaken traditional segments, appealing to a younger, more aspirational demographic.

The blend of style, performance, and utility resonates strongly with the advent...