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Automobile Retail Sales Skyrockets To A Record High This Festive Season: FADA
India's automobile retail sales have reached a new high this festive season, driven by a robust demand across all segments, except tractors. According to the Federation of Automobile Dealers Associations (FADA), there was a year-on-year growth with overall automobile sales increasing by 19 per cent.
Record Sales In Festive Season
In the 42-day festive period this year, automobile sales surged to 37,93,584 units, a significant rise from last year's 31,95,213 units. The period, starting from the first day of Navratri and ending 15 days post Dhanteras, saw passenger vehicle retail sales rising by 10 per cent to 5,47,246 units, up from 4,96,047 units in the same period last year.
Most Popular Segments
Despite initial underperformance during Navratri, particularly in the passenger vehicle sector, the situation improved by Diwali, ending with a 10 per cent growth rate.The most sought after segment during the festive period was sports utility vehicles, as stated by FADA President Manish Raj Singhania. However, Singhania also pointed out that inventory levels for passenger vehicles continue to be a major concern.
Rise In Two Wheeler & Commercial Vehicle Registrations
There was a 21 per cent year-on-year rise in two-wheeler registrations to 28,93,107 units this year, with rural areas significantly contributing to the surge in purchases.Commercial vehicle sales also rose by 8 per cent year on year in the 42-day window. Three-wheeler registrations witnessed a 41 per cent increase during the same period.
Despite a slight decline in tractor sales, the overall performance of the automobile sector during the festive season was commendable. The festive period this year, which commenced on October 15 and ended on November 25, saw record-breaking sales in several categories, marking a promising phase for India's automobile industry.
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