Press release
India Passenger Car Market Size, Share, Trends and Forecast by 2025-2033
India Passenger Car Market
The India passenger car market size reached USD 60.00 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 110.00 Billion by 2033, exhibiting a growth rate (CAGR) of 6.80% during 2025-2033.
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 60.00 Billion
Market Forecast in 2033: USD 110.00 Billion
Market Growth Rate (2025-2033): 6.80%
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India Passenger Car Market Overview
The India passenger car market is experiencing solid growth, spurred by increasing disposable income, accelerated urbanization and a strengthening middle class demographic. Government incentives to foster clean mobility, initiatives to enhance road infrastructure, and financing schemes to provide consumers with more purchasing power all continue to lower barriers for acquiring new automobiles. Additionally a transition to electric vehicles EVs and hybrid powertrains that are fuelled by incentives and investment in charging networks is transforming the market.
India Passenger Car Market Trends and Drivers
The demographic shift towards urbanization is one of the most notable drivers with forecasts suggesting that more than 40% of India population will be urbanised by 2030 fuelling a greater need for personal mobility options within its growing urban centres. Government infrastructure projects like Bharatmala and smart city elements laying out decreased travel times and enhanced connectivity will only exacerbate consumer appetite for new vehicles. Furthermore, a series of legislated reductions to the Goods and Services Tax (GST) on smaller and electric vehicles have decreased substantially the cost of vehicle ownership and spurred sales. This further incentivises automakers to take action and grow their portfolio of SUVs and EVs that align with changing consumer preferences and legislative initiatives to reduce the automotive industry's carbon footprint.
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India Passenger Car Market Segmentation
By Vehicle Type:
• Hatchback
• Sedan
• SUV
• MPV
By Fuel Type:
• Petrol
• Diesel
• Electric
• Hybrid
By Transmission Type:
• Manual
• Automatic
• Automated Manual Transmission (AMT)
By Price Segment:
• Economy
• Mid-Range
• Premium
By Region:
• North India
• South India
• East India
• West India
Key Highlights of the Report
• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
Ask analyst for customized report: https://www.imarcgroup.com/request?type=report&id=31392&flag=E
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https://www.imarcgroup.com/india-seaweed-market
https://www.imarcgroup.com/india-upholstered-furniture-market
https://www.imarcgroup.com/india-video-surveillance-systems-market
Contact Us
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Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-631-791-1145
About Us
IMARC Group is a leading market research and consulting company that offers strategy, research, and business intelligence solutions worldwide. We partner with global changemakers to shape market opportunities and drive transformative growth. Our services include market entry strategy, industry benchmarking, feasibility studies, regulatory insights, marketing and branding support, and robust data analysis across numerous sectors.
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