Auto / Passenger vehicle sales in India likely to reach 5 million units in FY23

A recent ASSOCHAM-Roland Berger joint study has stated that passenger vehicle market in India is likely to reach sales figure of about five million units in FY 2023, clocking a compounded annual growth rate (CAGR) 7.7 per cent, from 3.3 million units in FY18. The passenger vehicle market is expected to clock a compounded annual growth rate (CAGR) 7.7 per cent, along with global strategy consulting firm Roland Berger.