Indian Economy News

Car sales on 'fleet' street accelerate 95% in FY23

Sales of vehicles for fleet operations, including those to app-based taxi aggregators like Ola and Uber, nearly doubled in the previous fiscal year. Sales are expected to significantly outpace overall industry growth to get closer to the pre-pandemic peak this year.

According to the industry, 137,000 vehicles were sold to fleet operators in the most recent fiscal year, an increase of 95% from FY22.

Fleet sales are expected to grow by over 40% this financial year. Overall sales of passenger vehicles are expected to grow by 5-7% this fiscal.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.