India’s auto retail sales hit record highs this festive season in all segments except tractors, reporting year-on-year (y-o-y) growth on strong demand. The Federation of Automobile Dealers Associations (FADA), a group of car dealers, said on Tuesday that overall car sales during this year’s 42-day Christmas period were 3.79 million, an increase of 19% compared to last year’s 3,195,213 units. It was announced that the number of units has reached 3,584 units.
Retail passenger car sales during the period starting from the first day of Navratri and ending 15 days after Dhanteras were 547,246 units, up 10% from 496,047 units in the same period last year. This year’s festival period started on October 15th and ended on November 25th.
Last year, it was held from September 26th to November 6th. According to FADA, vehicle registration data of 1,355 out of 1,442 RTOs were collated. FADA India represents over 15,000 car dealerships with his 30,000+ dealerships across India.
FADA Chairman Manish Raj Singhania said, “Despite the initial slowdown during Navratri, especially in the passenger car sector, the situation improved by Diwali and ended with a growth rate of 10 per cent.” Stated. He said sport utility vehicles were the most popular vehicle during the holiday period.
However, Singhania noted that passenger vehicle inventory levels remain a significant concern as OEMs continue to push for further shipments and inventory rates remain near record high levels. Similarly, the number of registered motorcycles increased from 2,396,665 units in 2022 to 2,893,107 units this year, an increase of 21% year-on-year.
“Several categories have reported record sales, with rural areas in particular contributing to the surge in two-wheeler purchases,” he said.
Commercial vehicle sales increased by 8% year-on-year to 123,784 units in 42 days. The number of three-wheeler registrations increased by 41% to 1,42,875 units during the period from 1,01,052 units in the same period last year.
However, tractor sales decreased slightly from 86,951 units during the Christmas period last year to 86,572 units. “Tractors, whose sales declined by 8.3 per cent during Navratri, showed a remarkable recovery and ended the Christmas period with a decline of only 0.5 per cent,” Singhania added.
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