PV sales surge 36.4% to 4.5 lakh units in August as GST 2.0, lower EMIs drive demand

•PV sales surged 36.4% to 4.5 lakh units in August, up from 3.3 lakh units last year, driven by lower GST rates and reduced EMIs.

•Industry players attribute the growth to policy and macroeconomic factors, including GST 2.0 and successive repo rate reductions.

•Major automakers reported broad-based growth, with Maruti Suzuki up 34.8% YoY, Tata Motors up 59% YoY, and Hyundai Motor India up 23.6% YoY.

•Automakers remain optimistic about demand, expecting the industry to grow by at least 10% in FY27, driven by festive demand and favorable environment.