The total number of vehicles registered increased last month from 15,63,735 to 18,82,071, according to a statement from the Federation of Automobile Dealers Associations (FADA).
According to dealer’s group FADA, automobile retail sales in India increased by over 20% in September as demand jumped across all vehicle segments with the start of festival season.
The total number of vehicles registered increased last month from 15,63,735 to 18,82,071, according to a statement from the Federation of Automobile Dealers Associations (FADA).
According to FADA President Manish Raj Singhania, the year-over-year (YoY) research shows broad-based increase across segments, with two-wheeler sales up 22%, three-wheeler retail sales up 49%, passenger vehicle sales up 19%, and commercial vehicle sales up 5%.
However, in contrast to the corresponding month in the previous year, there was a 10% decline in retail tractor sales for the past month, according to his statement.
As vehicle availability improved, passenger vehicle registrations increased 19% YoY last month to 3,32,248 units from 2,79,137 units in September 2022.
Last month’s increased vehicle offtake was also a result of new product introductions, according to Singhania.
When compared to September 2022, two-wheeler retail sales increased by 22% to 13,12,101 units last month.
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Singhania claimed that the launch of new models and alluring promotional offers led to an increase in demand, particularly in rural areas, and an improvement in market attitude.
The number of commercial vehicle registrations increased last month by 5% YoY to 80,804 units. Sales of three-wheelers increased by 49% last month to 1,02,426 units from 68,937 units in September 2022.
From 60,321 units in September of previous year, tractor sales fell to 54,492 units this September.
Singhania made the following statement regarding the sales outlook: “As we move past the Shraadh period on October 14, the market is prepared for the start of Navratri, signaling a 42-day festive window. With these encouraging signs, FADA adopts a positive outlook and predicts a prosperous holiday season for the car retail industry. According to FADA, it collected retail data from 1,352 out of 1,440 RTOs nationwide last month.