Dealer body FADA on Monday said retail auto sales in India rose over 20 per cent in September as demand surged across the auto segment with the arrival of the festival season.
The Federation of Automobile Dealers Associations (FADA) said in a statement that the overall number of registered vehicles increased from 1,563,735 in September 2022 to 1,882,071 last month.
Year-on-year (YoY) analysis shows that two-wheeler sales have increased by 22%, three-wheeler retail sales have increased by 49%, passenger vehicle sales have increased by 19%, while commercial vehicle sales have increased by 20%, FADA Chairman Manish Raj Singhania said. He said the growth rate is 5%.
However, he noted that retail sales of tractors last month were down 10% compared to the same month last year.
Driven by improved vehicle availability, passenger vehicle registrations increased by 19% year-on-year to 332,248 vehicles last month, compared to 279,137 vehicles in September 2022.
Singhania said the launch of new products last month also helped improve vehicle sales.
Retail sales of two-wheelers increased by 22% to 1,312,101 units last month, compared to 1,078,286 units in September 2022.
“The introduction of new models and attractive promotions have increased demand, especially in rural areas, and helped improve market sentiment,” Singhania said.
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The number of registered commercial vehicles last month was 80,804, an increase of 5% from the previous year. Three-wheeler sales increased by 49% to 1,02,426 units last month as against 68,937 units in September 2022.
Tractor sales fell to 54,492 units from 60,321 units in September last year.
Singhania commented on the sales outlook as follows: “Having passed the Shradh period on October 14, the market is geared up for the beginning of Navratri, which heralds a 42-day festive period. With these encouraging indicators, FADA has announced a We expect prosperity and are optimistic.” FADA announced last month that it had collated retail data for 1,352 of the 1,440 RTOs across the country.