Passenger Vehicle Sales May Rise Up to 4 Per Cent: ICRA

01 Sep 2025 CW Team

Despite these headwinds, demand could be supported by the steady rollout of new models from original equipment manufacturers (OEMs), as well as the potential implementation of proposed Goods and Services Tax (GST) reforms. The central government has suggested reducing the current four GST slabs—5, 12, 18, and 28 per cent—to just two: 5 and 18 per cent. If enacted, this simplification could improve price competitiveness in select vehicle segments.

OEMs are set to report August sales on 1 September. For July, wholesale dispatches grew 8.9 per cent sequentially as manufacturers built up inventory in anticipation of the festive season. However, year-on-year growth remained flat at Rs 3.4 lakh units. Retail sales also improved sequentially by 10.4 per cent, though they dipped slightly by 0.8 per cent compared to July last year.

Utility vehicles, particularly SUVs, continued to lead the market, contributing 65 to 66 per cent of overall PV sales. These are expected to remain the primary growth drivers in the near term.

The Federation of Automobile Dealers Associations (FADA) reported that average inventory levels rose to 55 days by the end of July, further underscoring the supply-side buildup ahead of anticipated festive demand.

Meanwhile, exports showed a positive trend, registering a 9 per cent year-on-year increase in July. This growth was primarily led by Maruti Suzuki India, followed by Hyundai Motor India, though the performance came off a low base.

Overall, while near-term growth in the domestic PV industry may remain subdued due to elevated stocks and last year’s strong performance, factors such as new model introductions and potential tax reforms may provide a much-needed boost in the second half of the year.

The domestic passenger vehicle (PV) industry is expected to post a modest wholesale volume growth of 1 to 4 per cent in the current financial year, according to a report released by credit rating agency ICRA. This projection follows a contraction of 1.1 per cent in the first four months (April–July) of the fiscal, with elevated inventory levels and a high base weighing on overall momentum.Despite these headwinds, demand could be supported by the steady rollout of new models from original equipment manufacturers (OEMs), as well as the potential implementation of proposed Goods and Services Tax (GST) reforms. The central government has suggested reducing the current four GST slabs—5, 12, 18, and 28 per cent—to just two: 5 and 18 per cent. If enacted, this simplification could improve price competitiveness in select vehicle segments.OEMs are set to report August sales on 1 September. For July, wholesale dispatches grew 8.9 per cent sequentially as manufacturers built up inventory in anticipation of the festive season. However, year-on-year growth remained flat at Rs 3.4 lakh units. Retail sales also improved sequentially by 10.4 per cent, though they dipped slightly by 0.8 per cent compared to July last year.Utility vehicles, particularly SUVs, continued to lead the market, contributing 65 to 66 per cent of overall PV sales. These are expected to remain the primary growth drivers in the near term.The Federation of Automobile Dealers Associations (FADA) reported that average inventory levels rose to 55 days by the end of July, further underscoring the supply-side buildup ahead of anticipated festive demand.Meanwhile, exports showed a positive trend, registering a 9 per cent year-on-year increase in July. This growth was primarily led by Maruti Suzuki India, followed by Hyundai Motor India, though the performance came off a low base.Overall, while near-term growth in the domestic PV industry may remain subdued due to elevated stocks and last year’s strong performance, factors such as new model introductions and potential tax reforms may provide a much-needed boost in the second half of the year.

Infrastructure Urban

09 Jan 2026

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Infrastructure Urban

09 Jan 2026

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..

Building Material

09 Jan 2026

Sources Unlimited Introduces Vitamine Pendant Lamp by Melogranoblu

Sources Unlimited has launched the Vitamine Pendant Lamp by Melogranoblu in India, expanding its portfolio of curated international luxury lighting solutions. Designed and crafted in Italy, the Vitamine pendant reflects contemporary glass artistry, combining hand-blown craftsmanship with refined aesthetics and atmospheric illumination.The Vitamine Pendant Lamp is sculpted in hand-blown glass and is available in frosted, silver and black metallised finishes. Each finish offers a distinct visual identity while maintaining a cohesive and sophisticated design language. The lamp’s softly contoure..