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Vehicle-makers bet big on rural drive

ThehindubusinesslineThehindubusinessline · 7m
Vehicle-makers bet big on rural drive

Passenger vehicle (PV) sales in rural areas have seen significant growth, outpacing the urban market. Maruti Suzuki India (MSIL) reported a rural PV growth rate of 11.7% compared to 8% in urban areas, fueled by near-normal monsoon and higher Rabi sowing. MSIL expects rural sales to surpass eight lakh units, with a rural penetration rate of around 45%. Tata Motors also experienced strong growth in rural markets, with sales volumes in FY24 five times higher than in FY20. Hyundai Motor India also noted a significant increase in the contribution from rural markets to its total sales. The growth in rural sales is attributed to the expansion of dealer networks, improvements in road infrastructure, and increased investment in rural areas.

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