Vehicle retail sales up by 13.84% in July 2024

Robust PV sales were driven by new model launches and attractive pricing strategies.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 13.84% in July 2024 compared to the same month last year.

Overall sales for the month of July 2024 stood at 20,34,116 units, compared to 17,86,779 units in July 2023.

Tractor sales dropped by 11.95%, from 90,821 units in July 2023 to 79,970 units, last month.

Two-wheeler sales went up by 17.17% to 14,43,463 units from 12,31,930 units in July 2023.

Three-wheeler sales were up by 12.88% in July 2024. 1,10,497 units were sold, compared to 97,891 units in July 2023.

Passenger vehicle sales went up by 10.18% compared to the previous year. 3,20,129 units were sold last month, compared to 2,90,564 units, in July 2023.

Commercial vehicle sales increased by 5.93%. 80,057 units were sold in July 2024, compared to 75,573 units in the previous year.

According to FADA, robust PV sales were driven by new model launches and attractive pricing strategies. The 2W segment experienced notable growth due to a thriving rural economy, positive monsoon effects, and government support programs enhancing rural incomes. The segment also saw an increase in EV sales due to discounts and the EMPS scheme deadline.

Team-BHP's detailed analysis of the July 2024 sales figures.