Page 45 - Nuvama | IC Report 2023
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INDIA: THE 5D ADVANTAGE





                       In fact, we are already seeing such trends beginning to play out. Take the case of automobiles—the
                       share of SUVs in the total automobile sales has risen from 20% a decade ago to 50% now. We foresee
                       this premiumisation happening across the consumption basket.


                       55
                                                                                                                 Exhibit 14:
                                                                                                                 Share of SUVs in
                                                                                                                 India on the rise
                       45


                       35
                      (%)

                       25



                        15



                        5
                        Dec ’07         Dec ‘10         Dec ‘13         Dec ‘16        Dec ‘19         Dec ‘22
                                                                  India: SUV share in passenger vehicle sales
                       Source: CMIE, Nuvama Research


























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