India, March 12 -- The Indian automotive sector continues to surge ahead, with both domestic sales and exports showing robust growth, according to a report by the Society of Indian Automobile Manufacturers (SIAM). In February 2024, the industry recorded domestic sales of 18,94,900 units across segments, marking a significant 28.7% year-on-year (YoY) increase. Exports also saw a substantial rise, with 4,08,422 units shipped, reflecting a 36.17% YoY increase.

The passenger vehicle (PV) segment witnessed sales of 3,19,519 units, a 9.16% increase compared to the same month last year. This sets a new record high for the PV segment, continuing its trend of achieving 'highest ever' sales. Exports of PVs also grew by 20.4% to reach 54,043 units....