India, March 28 -- If you are planning to buy a new car in the coming months, you are likely to get lucrative discounts and attractive offers. This comes at a time when the barrage of price hikes by the OEMs is likely to come to an end following long waiting periods for passenger vehicles during the years of production shortages due to the pandemic and related disruptions like component and microchip shortages. TOI has reported that industry officials and analysts project that 2024 could be a year when the Indian passenger vehicle industry will witness limited growth amid a slump in demand and inventory build-up.

After registering a record 41 lakh passenger vehicles in the 2023 calendar year driven by SUV sales, the Indian car industry i...