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Sharda Motor Industries held a conference call on 27 May 2024 to discuss the results for the quarter ended March 2024 and way forward. Mr. Aashim Relan – Chief Executive Officer and Mr. Puru Aggarwal – President and Group CFO of the company addressed the call.
Highlights of the Concall
- The Indian automobile industry has posted a strong performance with domestic industry growing by 12.5% during FY '24 on the backdrop of robust economic growth of 7.6%, based on conducive policies of the government. India continues to be the third largest automotive market globally.
- Sales volume for the passenger vehicle grew 9% YoY in Q4FY '24 at around 13 lakhs units. FY '24 sales volume was about 49 lakhs units. This growth can be attributed to improved rural demand or favorable product mix and the launch of new models, enhanced supply dynamics improved broad infrastructure and strong demand and the SUV segment also contributed to this growth. The industry is ...
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