Auto Retail Sales In India Soar 20 Per Cent In September As Demand Surges In Festive Season
Indian automobile retail sales zoomed over 20 per cent in September as demand soared across vehicle segments with the onset of festival season, Federation of Automobile Dealers’ Associations (FADA) said on Monday. The sales jumped because of positive market sentiment driven by favourable monsoon, data released by the auto dealer’s body said.
Overall automobile registrations rose to 18,82,071 units last month from 15,63,735 units in September 2022, FADA said. The year-on-year (YoY) analysis reveals broad-based growth across segments as two-wheeler sales grew 22 per cent, three-wheeler retails soared 49 per cent, passenger vehicle sales grew 19 per cent, while commercial vehicles saw a sales growth of 5 per cent, FADA President Manish Raj Singhania said.
However, tractor retail sales declined 10 per cent last month, as compared to the same month last year, he noted. Passenger vehicle registrations rose 19 per cent YoY last month to 3,32,248 units, as compared to 2,79,137 units in September 2022, as vehicle availability improved. “With inventory for PV reaching an unprecedented 60-65 days threshold, it’s crucial for OEMs to proceed with caution, avoiding excessive inventory pushes, thereby ensuring a market that’s both vibrant and stable during the festive spree,” he said.
New product launches also led to improved offtake of vehicles last month, Singhania said. Two-wheeler retail sales grew by 22 per cent to 13,12,101 units, last month as against 10,78,286 units in September 2022. “With the introduction of new models and attractive promotional offers, demand increased, especially in rural areas, fostering improved market sentiments,” Singhania said.
Commercial vehicle registrations rose by 5 per cent YoY to 80,804 units last month. Three-wheeler sales saw an increase of 49 per cent to 1,02,426 units last month, as against 68,937 units in September 2022. Tractor sales declined to 54,492 units, as compared to 60,321 units last September.
On sales outlook, Singhania noted: “As we move past the Shraadh period on October 14, the market is poised for the onset of Navratri, heralding a 42-day festive window. With these promising indicators, FADA adopts an optimistic stance, anticipating a thriving festive season for the auto retail sector.” FADA said it collated retail data last month from 1,352 out of 1,440 RTOs across the country.
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