India's auto industry set for moderate growth; premium/SUVs to do better than mass segment: Nomura

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India's auto industry set for moderate growth; premium/SUVs to do better than mass segment: Nomura

India’s passenger vehicle (PV) industry is expected to grow steadily over the next three years, according to a report by Nomura. It said “the PV industry will grow +1.5%/+5%/+6% in FY25-F27F, while the CV industry is expected to witness 0%/+5%/+5% growth over the same period”. The report also highlighted that recently the Society of Indian Automobile Manufacturers (SIAM) pointed out that one of the key reasons for slow growth in the PV segment i…