Automobile Retail Sales Zoom 19 Per Cent In Festive Season This Year: FADA
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 during the period
Automobile retail sales in India jumped to a record high this festive season with all segments, barring tractors, reporting year-on-year (YoY) growth on robust demand. Auto dealers' body Federation of Automobile Dealers Associations (FADA) on Tuesday said that overall automobile sales zoomed 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.
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 during the period, which starts from the first day of Navratri and ends 15 days after Dhanteras. Festive period this year commenced on October 15 and ended on November 25.
Last year, it stretched between September 26 and November 6. According to FADA, it collated vehicle registration data from 1,355 out of 1,442 RTOs. FADA India represents over 15,000 automobile dealerships having over 30,000 dealership outlets across India.
Manish Raj Singhania, president, FADA, said, "Despite initial underperformance during Navratri, particularly in the passenger vehicle sector, the situation improved by Diwali, ending with a 10 per cent growth rate." Sports utility vehicles were the most sought after segment during the festive period, he said.
However, Singhania pointed out 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 YoY 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. Three-wheeler registrations saw 41 per cent increase to 1,42,875 units during the period under review from 1,01,052 units in the year-ago period.
Tractor sales however declined marginally to 86,572 units from 86,951 units in the festive period last year. "Tractors, which saw 8.3 per cent decrease in sales during Navratri, made a remarkable recovery, ending the festive period with only a 0.5 per cent decline," Singhania added.
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