Automakers in Mumbai are predicted to face limited pricing power this fiscal due to subdued demand, resulting in an anticipated average price increase of 4% to 5%, down from 8% in the previous fiscal year. Despite sluggish volumes, a strong growth trend in value terms is expected to persist, with India's automobile market witnessing a 19% growth to Rs10.6 crore in FY24, driven by factors such as the increasing popularity of utility vehicles, electric vehicles, and demand for features like sunroofs and automatic transmission.
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