India’s auto retail sales witnessed a 10% annual growth in July, according to the Federation of Automobile Dealers Associations (FADA). This growth was driven by strong sales in the passenger vehicle, bike, and commercial vehicle segments. FADA reported a total of 1,770,181 units of retail sales across all segments in July, compared to 1,609,217 units in the same month last year. Passenger vehicle sales also saw a 4% increase, with 284,064 units sold last month compared to 273,055 units in the previous year. These figures were reported by news agency PTI.
Total retail sales across segments rose to 1,770,181 units last month, compared to 1,609,217 units in July 2022. Passenger vehicle sales saw an increment of 4% to 284,064 units last month, compared to 273,055 units in the previous year, as stated by FADA and PTI.
“The month saw a surge in orders and timely OEM supplies, especially with the introduction of new products. However, heavy monsoons and flood-like situations, particularly in North India, affected sales,” commented FADA President Manish Raj Singhania.
Two-wheeler retail sales also experienced an 8% increase, with 1,228,139 units sold in July compared to 1,135,566 units in the same period last year. Singhania mentioned that despite challenges such as rainstorms and a shift towards electric vehicles, the two-wheeler segment displayed strength with increased demand and trust in reputable brands.
Commercial vehicle retail sales saw a 2% year-on-year growth, reaching 73,065 units in July, compared to 71,619 units in July 2022. “The commercial vehicle segment exhibited mixed dynamics. Despite strong inventory availability and growth in areas like school buses, demand was impacted by unpredictable weather conditions and high vehicle prices,” added Singhania.
Three-wheeler sales saw a 74% year-on-year increase, while tractor sales demonstrated strong growth of 21% last month.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
