Festive season, vehicles were sold at a rapid pace, there was huge shopping in villages and villages; FADA released figures
Dealers' body FADA on Tuesday said automobile retail sales in India have reached a record high this festive season due to strong demand. Total automobile sales in the 42-day festive period this year increased by 19 percent to 3793584 units compared to last year. The figure was 3195213 units. Let us know about the complete news.
Automobile retail sales in India have reached a record high this festive season due to strong demand, with all segments except tractors registering year-on-year growth, dealers' body FADA said on Tuesday.
Total automobile sales in the 42-day festive period this year increased by 19 percent to 37,93,584 units, compared to 31,95,213 units last year.
During this period, which begins on the first day of Navratri and ends 15 days after Dhanteras, passenger vehicle retail sales increased to 5,47,246 units, up 10% from 4,96,047 units in the same period last year. The percentage is higher.
Manish Raj Singhania, president, the Federation of Automobile Dealers Association (FADA), said, “Despite the initial poor performance during Navratri, especially in the passenger vehicle sector, the situation improved by Diwali and ended with a growth rate of 10 percent. "
He said that the demand for sports utility vehicles was highest during the festive period. Singhania further said that inventory levels for passenger vehicles remain a key concern, as OEMs are pushing ahead with dispatches, thus inventory rates remain close to all-time highs.
Similarly, registration of two-wheelers increased by 21 percent year-on-year to 28,93,107 units this year from 23,96,665 units in 2022.
“Record-breaking sales were recorded across several categories, with rural areas particularly contributing to the increase in two-wheeler purchases,” Manish Raj Singhania said. Commercial vehicle sales in the 42-day period grew 8 percent year-on-year to 1,23,784 units. This year the festive period started on 15 October and ended on 25 November. Last year, it extended between September 26 and November 6.
FADA said it has collected vehicle registration data from 1,355 out of 1,442 RTOs. FADA India represents over 15,000 automobile dealerships with over 30,000 dealership outlets across India.