According to rating agency ICRA, the passenger vehicle wholesale volumes in the country are expected to grow by 4 to 6 per cent this fiscal year, despite clocking in a growth of 29 per cent in the first five months of fiscal 2027 (April-August), reported news agency IANS.

The ICRA report said estimates the moderation in the growth is on account of a high base, while noting that the recent price hikes announced by the automakers and the monsoon deficiency could dampen rural sentiment, thus impacting the volume growth in the second half of the financial year (October to March).