India's passenger vehicle wholesales reached a new high of 42,18,746 units in the 2023-24 financial year, an 8.4% increase from the previous year. The growth was attributed to strong demand for utility vehicles, with two-wheeler sales seeing a 13.3% growth. Vehicle sales across all categories also rose by 12.5%. Exports experienced a 5.5% decline. The Indian automobile industry's growth was attributed to India's 7.6% economic growth and favorable government policies.
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