Vehicle retail sales up by 0.73% in June 2024

Passenger vehicle sales went down by 6.77% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 0.73% in June 2024 compared to the same month last year.

Overall sales for the month of June 2024 stood at 18,95,552 units, compared to 18,81,883 units in June 2023.

Tractor sales dropped by 28.36%, from 99,148 units in June 2023 to 71,029 units last month.

Two-wheeler sales went up by 4.66% to 13,75,889 units from 13,14,628 units in June 2023.

Three-wheeler sales were up by 5.10% in June 2024. 94,321 units were sold, compared to 89,743 units in June 2023.

Passenger vehicle sales went down by 6.77% compared to the previous year. 2,81,566 units were sold last month, compared to 3,02,000 units in June 2023.

Commercial vehicle sales dropped by 4.74%. 72,747 units were sold in June 2024, compared to 76,364 units in the previous year.

Passenger vehicle sales experienced a notable decline last month. Inventory levels reached an all-time high, ranging from 62 to 67 days. Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment remains subdued due to extreme heat resulting in 15% fewer walk-in’s and delayed monsoons.