Automobile retail sales soar to record high
Overall automobile sales rose 19% to 37,93,584 units in the 42-day festive period this year, says FADA
image for illustrative purpose
New Delhi: Driven by robust demand, automobile retail sales in India rose to a record high this festive season with all segments, barring tractors, reporting year-on-year growth, dealers’ body FADA said on Tuesday.
Overall automobile sales rose 19 per cent to 37,93,584 units in the 42-day festive period this year as compared with 31,95,213 units last year. During the period, which starts from the first day of Navratri and ends 15 days after Dhanteras, passenger vehicle retail sales rose to 5,47,246 units, up 10 per cent from 4,96,047 units in the same period last year. “Despite initial underperformance during Navratri, particularly in the passenger vehicle sector, the situation improved by Diwali, ending with a 10 per cent growth rate,” Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said. Sports utility vehicles were the most sought after segment during the festive period, he added.
Singhania however noted that inventory levels for passenger vehicles remain a significant concern as OEMs continue to push further dispatch, thus keeping the inventory rate near all-time high levels. Similarly, two-wheeler registrations rose 21 per cent year-on-year to 28,93,107 units this year from 23,96,665 units in 2022. “Record-breaking sales were reported in several categories, with rural areas particularly contributing to the surge in two-wheeler purchases,” he said. Commercial vehicle sales rose 8 per cent year-on-year to 1,23,784 units in the 42-day window.
