Vehicle retail sales up by 2.61% in May 2024

Passenger vehicle sales went down by 0.96% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 2.61% in May 2024 compared to the same month last year.

Overall sales for the month of May 2024 stood at 20,89,603 units, compared to 20,36,528 units in May 2023.

Tractor sales dropped by 1.06%, from 70,813 units in May 2023 to 70,065 units last month.

Two-wheeler sales went up by 2.48% to 15,34,856 units from 14,97,778 units in May 2023.

Three-wheeler sales were up by 20.09% in May 2024. 98,265 units were sold, compared to 81,825 units in May 2023.

Passenger vehicle sales went down by 0.96% compared to the previous year. 3,03,358 units were sold last month, compared to 3,06,305 units in May 2023.

Commercial vehicle sales increased by 4.07%. 83,059 units were sold in May 2024, compared to 79,807 units in the previous year.

According to FADA, despite better supply, some pending bookings and discount schemes, the lack of new models, intense competition and poor marketing efforts by OEMs affected sales. Due to the extreme heat, the number of walk-ins to showrooms dropped by around 18%.

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