1、Automotive pulse-IndiaQuarterly newsletterNovember 2024KPMG.Make the D 2024 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited,a private English co

2、mpany limited by guarantee.All rights reserved.2A snapshot of Indias automotive sectorIndias automotive sector is experiencing a transformative phase,fuelled by a blend of technological advancements,evolving consumer trends and a growing appetite for sustainable and electric vehicles(EVs).This posit

3、ive momentum is further amplified by the governments supportive policies that encourage local production.Consequently,India is swiftly becoming a pivotal player in the international automotive arena,offering abundant investment opportunities and heralding a prosperous outlook for the sector.In CY23,

4、the Indian automotive sector concluded with a record total of 24 million vehicles registered,marking an 11.3 per cent growth compared to the 21.6 million vehicles in CY22,with the passenger vehicle category reaching an all-time high1.In 1HFY25,automotive exports from India saw a year-on-year increas

5、e of 14 per cent,with all verticals,except for three-wheelers,recording growth in shipments2.The overall shipments reached 25,28,248 units in the first half of the current fiscal year compared to 22,11,457 units during the same period last year2.Throughout the months of August-October 2024,the autom

6、otive sector witnessed marginal decline in demand levels,as visible in the vehicle registrations and electric battery-operated vehicle sales,largely due to excess rainfall and floods disrupting retail sales in several states in the local market.However,in October 2024,there was a significant rise in