Decline in India Inc’s auto sector deal activity; PE dominates amidst EV boom
Primarily influenced by the private equity (PE) segment, India Inc saw 16 deals amounting to USD 98 million in Q2 2023 in the auto sector. According to the Grant Thornton Bharat Dealtracker Report, Q2 2023, there has been a substantial decline in overall deal activity, with a 92% decline in values and 36% decrease in volumes.
21% Y-o-Y growth in domestic automobile sales
The automotive industry in India has entered a transformative phase, embracing alternative fuel technologies and innovative mobility solutions. The sector recorded a 21% Y-o-Y growth in domestic sales in FY 2022-23 across all vehicle categories and exhibited a strong presence within the EV sector, crossing the 1 million mark in sales and registering an exceptional 154% Y-o-Y increase this fiscal year.
