New Delhi: Driven by strong demand, automobile retail sales reached one in india record All segments except tractors are registering year-on-year growth this festive season, says dealers’ association FADA Said on Tuesday.
Total automobile sales in the 42-day festive period this year increased by 19 per cent to 37,93,584 units, compared to 31,95,213 units last year.
During this period, which starts from the first day of Navratri and ends 15 days after Dhanteras, passenger vehicles retail Sales increased 10 percent to 5,47,246 units from 4,96,047 units in the same period last year.
Manish Raj Singhania, president, 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 per cent. “
He said that the demand for sports utility vehicles was highest during the festive period.
Singhania, however, said 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, two-wheeler registrations increased 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 many categories, with rural areas particularly contributing to the increase in two-wheeler purchases,” he said.
Commercial vehicle sales in the 42-day period grew 8 per cent year-on-year to 1,23,784 units.
Three-wheeler registrations increased by 41 per cent to 1,42,875 units during the period under review, from 1,01,052 units in the year-ago period. However, tractor sales declined marginally to 86,572 units from 86,951 units in last year’s festive period.
“Tractor sales witnessed a decline of 8.3 per cent during Navratri, but there was a significant recovery and the festive period ended with a decline of only 0.5 per cent,” Singhania said.
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 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.
Total automobile sales in the 42-day festive period this year increased by 19 per cent to 37,93,584 units, compared to 31,95,213 units last year.
During this period, which starts from the first day of Navratri and ends 15 days after Dhanteras, passenger vehicles retail Sales increased 10 percent to 5,47,246 units from 4,96,047 units in the same period last year.
Manish Raj Singhania, president, 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 per cent. “
He said that the demand for sports utility vehicles was highest during the festive period.
Singhania, however, said 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, two-wheeler registrations increased 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 many categories, with rural areas particularly contributing to the increase in two-wheeler purchases,” he said.
Commercial vehicle sales in the 42-day period grew 8 per cent year-on-year to 1,23,784 units.
Three-wheeler registrations increased by 41 per cent to 1,42,875 units during the period under review, from 1,01,052 units in the year-ago period. However, tractor sales declined marginally to 86,572 units from 86,951 units in last year’s festive period.
“Tractor sales witnessed a decline of 8.3 per cent during Navratri, but there was a significant recovery and the festive period ended with a decline of only 0.5 per cent,” Singhania said.
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 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.