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In March 2024 automobile industry, a notable increase in sales volumes has been observed across various segments, with the exception of CVs. The PV and 3W segments have been the frontrunners in this surge, with PVs achieving an impressive 14% YoY growth, eclipsing the 13% and 7% growth rates of 3Ws and 2Ws respectively. Maruti Suzuki, the market leader, has outperformed with a commendable 15% growth. The PV segment's growth trajectory is attributed to shortened waiting periods and significant discounts, especially on the newly launched SUVs by key industry players.  On monthly basis, the CV segment emerged as the top performer, registering a double-digit growth of 16%, while the 2W segment saw a modest increase of 3%. The 2W segment has witnessed a substantial uptick in rural market sales, supported by a strong export performance that has pushed volumes beyond pre-pandemic benchmarks. This recovery is a testament to the sector's resilience and adaptability in meeting the evolving demands of both domestic and international markets. A temporary downturn in tractor sales was noted, likely due to the shift of Chaitra Navratri to April, which historically influences buyers' preferences for purchasing new tractors during this auspicious period. Nonetheless, a rebound is anticipated, buoyed by a positive monsoon forecast and augmented government support for the agricultural sector. 

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