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Nomura cut India’s FY25 passenger vehicle growth estimate to 1% YoY, down from 4%, due to weak demand. In contrast, the ...
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The global financial services firm, however, lowered its financial year 2025 third quarter estimate for India's passenger ...
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Small and affordable cars once formed the backbone of the Indian auto industry but lost market share to the rise of SUVs.
Nomura lowered its financial year 2025 third-quarter estimate for India's passenger vehicle (PV) industry to 1% year on year, which was 4% earlier. It maintained its estimate at 6% YoY for FY26/3F.
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Nomura predicts India's passenger vehicle market will recover in 2025, but lowered its FY25 growth estimate to 1%. While small car demand remains weak, SUV and premium models are driving growth.