This year’s festive season, motor vehicle retail sales hit record high: FADA

New Delhi. Motor vehicle retail sales reached a record high during the festive season this year on the back of strong demand in India. Apart from tractors, all segments have registered year-on-year growth. Vehicle dealer’s body FADA said this on Tuesday. Total motor vehicle sales in the 42-day festival season this year increased by 19 percent to 37,93,584 units, compared to 31,95,213 units last year.

Passenger vehicle retail sales in the festive season, which began on the first day of Navratri and ended 15 days after Dhanteras, rose 10 per cent to 5,47,246 units from 4,96,047 units in the same period last year. “Despite poor performance during Navratri, the situation improved till Diwali and 10 per cent growth was recorded,” said Manish Raj Singhania, president of Federation of Automobile Dealers Association (FADA).

He said that sports utility vehicles were in highest demand during the festive season. Similarly, registration of two-wheelers increased by 21 percent on an annual basis to 28,93,107 units this year, which was 23,96,665 units in 2022. He said, “Record breaking sales were recorded in many categories, in which rural areas especially contributed to the increase in purchase of two-wheelers.” During this period, commercial vehicle sales increased by eight percent year-on-year to 1,23,784 units. Three-wheeler registrations increased by 41 per cent to 1,42,875 units in the period under review from 1,01,052 units in the same period a year ago.

However, tractor sales declined marginally to 86,572 units from 86,951 units in last year’s festive period. Singhania said, “There was a decline of 8.3 percent in tractor sales during Navratri, but there was a significant improvement and later it was limited to a decline of 0.5 percent.” This year the festival season starts on October 15 and ends on November 25. Ended.

Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.

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