Vikram Gulati, Executive Vice President & Country Head, Toyota Kirloskar Motor stated that the Indian passenger vehicle market is expected to carry forward the momenottum of this year to the next thanks to economic fundamentals, having moved beyond pent-up demand-induced growth.
SUV’s are expected to witness fast growth in general in 2024. The mid to high-end segment too is expected to see acceleration. However, the performance of small cars still remains a question.
Gulati shared that the market is growing and will continue to in a healthy way. He shared that market is well beyond a stage where people would share that the demand being witnessed is pent-up demand. Furthermore, the festive season has seen very good pickup.