Sub-INR 5 lakh cars shrink to just 0.3% of market from 34% 8 years ago
With vehicle prices going up sharply in past few years amid claims of high commodity prices and more expenditure due to safety norms, the share of entry level cars - those priced under INR 5 lakh - has crashed from 33.6% in 2015 to 0.3% in 2023. What auto companies don't tell you is that they have graduated to bigger cars to earn fatter margins.
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