The festive season in the country is an auspicious choice for the auto industry. Automobile retail sales increased by 12% to 42,88,248 units during the festive season. Last year, sales of 38,37,040 units were during the festive season. FADA President CS Vigneshwar said that since the beginning of Navratri, we have witnessed a significant boom, with total sales of 42.88 lakh vehicles.
Retail sales of passenger vehicles during the festive period this year increased by 7% to 6,03,009 units as against 5,63,059 units during the same period last year. Sales of passenger vehicles surged due to phenomenal discounts in the market and growth in demand. We could have achieved the target of 45 lakh units completely or even with higher sales figures but due to unseasonal rains in Bengaluru and Tamil Nadu and Cyclone Dana in Odisha, this target could not be achieved. The stock level of passenger vehicles will decrease in the near future. However, Fada cautioned that the actual picture of inventory will emerge only at the end of the month.
Sales of two-wheelers also grew by 14% during the 42-day festive season at 33,11,325 units, as against 29,10,141 units recorded during the same period last year. Sales of two-wheelers had a bullish momentum on the back of strong demand in rural areas of the country. Sales of commercial vehicles also increased by 1% to 1,28,738 units during the festive period, while sales of three-wheelers, on the other hand, registered a 7% increase to 1,59,960 units. However, sales of tractors declined by 2% to 85,216 units.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
