CRISIL Forecasts SUVs to Constitute 62% of PV Sales by FY25

Market analysis by CRISIL anticipates a significant shift in the Indian automotive landscape, with Sports Utility Vehicles (SUVs) expected to claim a substantial 62% share of the passenger vehicle (PV) market by the fiscal year 2025. This projection underscores the growing appeal of SUVs among Indian consumers and signifies a transformative trend in the automotive industry. The forecasted dominance of SUVs in PV sales is driven by changing consumer preferences that increasingly favour SUVs over other vehicle segments. The perceived safety, spacious interiors, and versatile utility of SUVs contribute to their rising popularity in the Indian automotive market. CRISIL's analysis points towards a strategic reorientation for automakers to align with the escalating demand for SUVs. This shift is likely to prompt manufacturers to introduce new SUV models and expand their SUV product portfolios to cater to the evolving tastes of the Indian car-buying populace. As the forecast suggests a dominant 62% market share for SUVs in PV sales by FY25, it signifies a significant industry shift, prompting automakers to adapt their production and marketing strategies to capitalise on the growing preference for SUVs among Indian consumers.