Adani Enterp. 2326.10↑370.05(18.92%)
Adani Ports 729.70↑41.60(6.05%)
Apollo Hospitals 4605.30↑158.15(3.56%)
Asian Paints 3084.90↑0.45(0.01%)
Axis Bank 917.55↓-6.50(-0.70%)
B P C L 361.60↑1.30(0.36%)
Bajaj Auto 4523.25↑40.05(0.89%)
Bajaj Finance 6793.05↑8.85(0.13%)
Bajaj Finserv 1413.00↓-2.10(-0.15%)
Bharti Airtel 801.85↓-3.90(-0.48%)
Britannia Inds. 4498.95↓-0.90(-0.02%)
Cipla 924.95↑8.70(0.95%)
Coal India 238.70↓-1.20(-0.50%)
Divi's Lab. 3265.00↑166.70(5.38%)
Dr Reddy's Labs 4457.65↑65.70(1.50%)
Eicher Motors 3545.45↓-25.45(-0.71%)
Grasim Inds 1718.35↑2.25(0.13%)
H D F C 2704.75↓-6.20(-0.23%)
HCL Technologies 1119.85↑24.50(2.24%)
HDFC Bank 1641.05↓-5.85(-0.36%)
HDFC Life Insur. 567.00↑9.40(1.69%)
Hero Motocorp 2692.15↓-20.85(-0.77%)
Hind. Unilever 2638.10↓-3.35(-0.13%)
Hindalco Inds. 407.70↑0.95(0.23%)
ICICI Bank 950.35↓-3.95(-0.41%)
IndusInd Bank 1246.15↓-1.85(-0.15%)
Infosys 1292.80↑23.90(1.88%)
ITC 424.75↑4.90(1.17%)
JSW Steel 704.60↑10.75(1.55%)
Kotak Mah. Bank 1940.20↓-1.45(-0.07%)
Larsen & Toubro 2216.60↑26.55(1.21%)
M & M 1265.55↑5.15(0.41%)
Maruti Suzuki 9156.65↑50.70(0.56%)
Nestle India 21494.80↓-195.35(-0.90%)
NTPC 174.10↑0.80(0.46%)
O N G C 165.60↑0.70(0.42%)
Power Grid Corpn 234.35↑0.65(0.28%)
Reliance Industr 2455.00↑13.05(0.53%)
SBI Life Insuran 1150.80↓-3.35(-0.29%)
St Bk of India 577.15↑2.00(0.35%)
Sun Pharma.Inds. 937.45↑11.60(1.25%)
Tata Consumer 766.10↑0.65(0.08%)
Tata Motors 522.50↓-2.45(-0.47%)
Tata Steel 105.00↑0.35(0.33%)
TCS 3298.70↑75.85(2.35%)
Tech Mahindra 1104.45↑32.30(3.01%)
Titan Company 2712.55↑10.90(0.40%)
UltraTech Cem. 7715.65↑34.35(0.45%)
UPL 670.40↑2.40(0.36%)
Wipro 395.75↑9.55(2.47%)

PV, CV segments drove auto sales in FY23; demand moderation likely in FY24

PV industry 'very sentiment-driven', will close financial year with 24% growth rate: Analyst

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5 min read Last Updated : Mar 22 2023 | 11:56 PM IST

Passenger vehicle (PV) and commercial vehicle (CV) companies did well in FY23 as two-wheelers (2W) and tractors were muted but growth is likely to moderate for most segments in the new financial year, said experts.

The PV industry will close FY23 with a 24 per cent growth rate touching 3.8 million units, marking a record year, according to ICRA. Shamsher Dewan, senior vice president and group head—corporate ratings at ICRA, said that after a lull in PV sales during the pandemic, there was pent-up demand.

“This has been largely addressed during this year and now there is a healthy inventory with dealers,” Dewan told 'Business Standard'. Some moderation in demand is expected in the coming fiscal.