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n 2024, Gujarat's passenger vehicle (PV) market reached a record high, with 3.4 lakh units sold, according to data from the Union Ministry of Road Transport and Highways.
Factors Influencing the Growth
Several factors have contributed to this upward trend:
Rural Demand: Improved agricultural incomes and rising aspirations in rural areas have significantly boosted car sales.
Festive Season: The festive season in October provided a major boost, with 53,178 cars retailed in a single month, thanks to muhurat sales on Dussehra and Dhanteras, steep discounts, and attractive financing schemes.
SUV Popularity: Urban areas have seen strong traction with SUVs dominating the market, accounting for over 40% of the state's PV sales, reflecting a growing preference for stylish, powerful, and versatile vehicles.
Looking Ahead
The upward trajectory in car sales in Ahmedabad reflects a dynamic automotive market. As consumer preferences evolve and economic conditions continue to improve, the city is poised for further growth in the automotive sector.
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