Breaking News: PV Industry Growth Likely To Moderate To Less Than 5 Pc In FY25: Tata Motors
New Delhi: The growth of the domestic passenger vehicle industry is likely to moderate to less than 5 per cent in the next fiscal, according to Tata Motors Passenger Vehicles Managing Director Shailesh Chandra.
The company, however, expects electric vehicle sales to keep growing despite the slow pace of charging infrastructure development in the country.
"We had seen a very strong growth in FY23 of 25 per cent, which is likely to moderate in FY24 to about 8 per cent. Therefore, we are seeing with this high base effect, and FY25 will be slightly challenging with less than 5 per cent growth rate," Chandra said in an analyst call.
He further said, "As far as EVs are concerned, I think the biggest challenge here is the pace at which the charging infra is growing. It ...