The Indian car market will grow by 3.2% in 2025
- The Indian passenger car market will grow at the same rate as the South Korean market in 2025, but this is purely coincidental, meaning a growth rate of 3.2%. Market volume will approach 4.5 million units for the first time in its history (compared to 4.3 million units in 2024) and will consolidate its lead over Japan, which will register fewer than 4 million passenger cars in 2025.
- The Indian market has become the fourth largest in the world in just a few years, behind China, the United States, and Europe (30 countries: EU + UK + Switzerland + Norway). This market represented only 1.5 million vehicles per year between 2005 and 2008, 2.5 million per year between 2011 and 2014, then 3.0 million in 2021 and 4.0 million in 2023. Despite this strong growth, India remains a market with low vehicle ownership, especially compared to China. Therefore, there is a strong likelihood that this market will continue to grow.
- By carmaker, Suzuki- Maruti (specializing in small cars) traditionally remains the leading carmaker in India (39% of the market in 2025), but competitors are beginning to gradually reduce their gap with the market leader.
- The Korean group Hyundai-Kia, a newcomer to the market, has already managed to capture 19%, ahead of India's Mahindra (specializing in SUVs) with 14% and India's Tata Group (present in both the small car and SUV categories) with 13%. Following behind, Japan's Toyota holds 8% of the market. Other carmakers present in the market remain marginal. Imports represent only 4% of the market due to very high customs duties.