[TusharK]

According to data shared by the Federation of Automobile Dealers Associations (FADA), 37,93,584 vehicles were sold during the 42-day festive period in India. An 18.73% increase over the previous year.



Passenger vehicle sales were up by 10.32% from 4,96,047 units to 5,47,246 units, while 2-wheeler sales increased by 20.71% from 23,96,665 units to 28,93,107 units.

The 3-wheeler segment recorded the highest growth of 41.39%. 1,42,875 units were sold during the 2023 festive season compared to 1,01,052 units last year. Commercial vehicle sales were up by 8.11% from 1,14,498 units to 1,23,784 units, while tractor sales saw a decline of 0.44%.

Manish Raj Singhania, FADA President said, “Record-breaking sales were reported in several categories, with rural areas particularly contributing to the surge in two-wheeler purchases. Despite initial underperformance during Navratri, particularly in the passenger vehicle sector, the situation improved by Deepawali, ending with a 10% growth rate. While SUVs were the highest demanded vehicles, inventory levels for passenger vehicles remain a significant concern as OEMs continue to push further dispatch thus keeping the inventory rate at near to all-time high levels.

Tractors, which saw an 8.3% decrease in sales during Navratri, made a remarkable recovery, ending the festive period with only a 0.5% decrease. This turnaround highlights the robust purchasing power in rural India.”

Link to Team-BHP News

[gauravdgr8]

Excellent news for the industry as a whole. While the global markets seem to be plateauing or on a decline, Indians are in no mood to relent.