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The Passenger Vehicles (PV) segment volumes are expected to log a record 18-20% growth this fiscal as the pent-up demand levels off amid hike in vehicle prices, CareEdge said in a report on Tuesday.
It also projected the PV sales volume to continue this growth momentum in the next fiscal, driven by factors such as a strong order book and improvement in the supply chain, the credit ratings agency said.
The demand for premium variants is expected to remain healthy, while that of entry-level variants may remain muted due to high-interest rates and an inflationary environment, according to CareEdge.
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