Indian Auto Market: Bigger the car, the better it is: Key data points from Indian auto market
MPVs have emerged as the fastest growing segment in India’s passenger vehicle (PV) industry in the first five months of this year.
About 138,136 MPVs were sold in the local market during January-May 2022, up 54% from a year earlier.
Sales of SUVs, too, increased 21% to 565,384 units in the same period.
In MPVs, Kia Carens gained 17% share within months of launch at the cost of incumbents. In SUVs, too, among the top five best-sellers only Tata Nexon managed to increase segment share in the first five months of the year.
Vehicle purchase trends underline an increasing preference for larger vehicles after the pandemic.
SUVs and MPVs together now account for 47% of sales of PVs in India.
Overall, passenger vehicle sales in the local market went up by 14% to 1,506,765 units in Jan-May.
