<h1>Passenger vehicle market growth driven by SUVs and rural demand leads to record annual wholesales and rising EV traction.</h1> The passenger vehicle market reached record annual wholesales in 2024 at around 43 lakh units, driven primarily by SUV demand and stronger rural sales; leading manufacturers reported highest-ever annual domestic wholesale and retail volumes, expansion into smaller cities and rural channels, and growing traction for new energy and emission-friendly powertrains, while luxury volumes were impacted by supply-chain constraints.