Passenger vehicle sales in February held their head above water, but only just. Wholesale dispatches for the month climbed 1.9% from a year earlies to 377,689 units, according to data put out by the Society of Indian Automobile Manufacturers (SIAM) on Thursday. Factory dispatches to dealerships of three-wheelers also rose 4.7% but for two-wheelers, they…
India mandates third-party vehicle insurance, or liability insurance, for all motorists to cover damages or injuries caused by the policyholder to someone else. The Insurance Regulatory and Development Authority of India, or Irdai, typically revises the premium rates for third-party vehicle insurance policies every 1-2 years under the Motor Vehicle Act. However, its last rate…
India’s market for passenger vehicles has slowed to a crawl. As reported, a forecast made by Indian carmakers at an internal meeting of the Society of Indian Automobile Manufacturers (SIAM) last week points to stagnant sales in 2024-25 at a level of just above 4.2 million units, with barely 1-2% growth expected in 2025-26. While…
