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In our previous (2015) DVN Report on the Indian auto market, production was about 17.5 million vehicles, of which 2.3 million were exported. The Indian market segment breakdown for 2013-14 was:
• Two-wheelers, 80.4 per cent
• Passenger vehicles, 13.6 per cent
• Commercial vehicles, 3.4 per cent
• Three-wheelers, 2.6 per cent.
Passenger car estimated growth was around 100 per cent from 2013 to 2020, to reach 6.0 million cars in 2020:
According to figures from FADA (India’s auto dealers’ association), the whole vehicle market in India for financial year (1 April to 31 March) 2022-23 was a bit over 22 million vehicles; for FY 2023-24 the figure is just over 24.5 million units. Of those, two- and three-wheelers together accounted for 76.2 per cent, passenger vehicles accounted for 16.1 per cent, and commercial vehicles accounted for 4.1 per cent. These figures are for vehicles sold within India; the 14 per cent of passenger cars exported outside India raise that category total to 4.7 million.