Auto retail sales soar to record high in festive season

New Delhi, November 28

Driven by robust demand, automobile retail sales in India rose to a record high this festive season with all segments, barring tractors, reporting year-on-year growth, dealers’ body FADA said on Tuesday.

Overall automobile sales rose 19% to 37,93,584 units in the 42-day festive period this year as compared with 31,95,213 units last year.

During the period, which starts from the first day of Navratri and ends 15 days after Dhanteras, passenger vehicle retail sales rose to 5,47,246 units, up 10 per cent from 4,96,047 units in the same period last year.

“Despite initial under-performance during Navratri, particularly in the passenger vehicle sector, the situation improved by Diwali, ending with a 10% growth rate,” Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said.

Sports utility vehicles were the most sought-after segment during the festive period, he added.

Singhania, however, noted inventory levels for passenger vehicles remain a significant concern as original equipment manufacturers (OEMs) continue to push further dispatch, thus keeping the inventory rate near all-time high levels.

Similarly, two-wheeler registrations rose 21% year-on-year to 28,93,107 units this year from 23,96,665 units in 2022.

“Record-breaking sales were reported in several categories, with rural areas particularly contributing to the surge in two-wheeler purchases,” he said. — PTI

SUVs steal the show

• Overall automobile sales rose 19% to 37,93,584 units in the 42-day festive period this year as compared with 31,95,213 units last year
• During the 42-day period, passenger vehicle retail sales rose to 5,47,246 units, up 10% from 4,96,047 units in the same period last year
• Sports utility vehicles were the most sought-after segment during the festive period