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Nifty Auto surged 75% in FY24. Will FY25 follow a similar trend? Between passenger vehicles (PVs), commercial vehicles (CVs), and two-wheelers (2W), which segment will lead? Here's what experts believe.
Shailesh Chandra, MD of Tata Motors PV, expects a strong growth rate for EVs in the PV industry, with growth rates moderating from 300% to 200% and then 100%. He believes that slight cannibalisation of demand for Tata Motors EVs is unavoidable but sees Punch EV as a distinct product attracting a new set of customers. In 2024, Chandra predicts that the EV industry will have grown to nearly hundred thousand units. The PV industry is expected to grow by sub 5% in the next financial year.