Demand for new cars continues to stay strong despite concerns on interest rates and inflation. After registering a 33% sales growth in 2022, the industry is confident to close this year with a record 4 million-plus vehicles, with as many as one million units expected to come in only during the festive season. Companies such as Maruti Suzuki, Hyundai, Kia, MG Motor, and Mercedes-Benz said demand continues to remain robust as sales of premium vehicles are not showing any signs of slowdown. Shashank Srivastava, director (marketing & sales) at Maruti Suzuki, stated that the industry’s volumes are expected to cross 3 million units by the end of September, while adding an additional one million in the last quarter to reach a record-breaking 4 million units for the full year. SUVs and new models are fueling the momentum in the car sales. Tarun Garg, COO of Hyundai India, expressed confidence in the ongoing demand, which has grown by nine percent this year. Hardeep S Brar, VP (marketing & sales) at Kia India, highlighted the strong growth in the mid-SUV category and stated that the upper-end of the market is performing well with no signs of saturation. The luxury car segment, including Mercedes, is also experiencing strong demand. Shailesh Chandra, MD of Tata Motors, mentioned the contribution of electric vehicles to the overall growth of the industry.