RETAIL SALES GROW 27% YOY IN APRIL, PVS UP 16%, 2W BY 33%: FADA

In the PV segment, new model launches and favourable monsoon forecasts are set to stimulate customer interest, while bulk deals in CV segment should bolster demand in sectors like iron ore, steel, and cement

A mid favourable market sentiment driven by stable fuel prices, positive monsoon outlook, festive demand and the marriage season, the Indian auto retail sector achieved a robust 27 per cent year-on-year growth in April 2024, even as the industry remains cautiously optimistic due to rising interest in new models, election-related uncertainty and financial challenges which are now crucial to navigate the evolving market, says the Federation of Automobile Dealers Associations (FADA) on Wednesday.

The FADA vehicle retail data for April 2024 shows that on a yoy basis, retail sales of passenger vehicles grew 16 per cent, two-wheelers (2W) were up by 33 percent, three-wheelers (3W) increased by 9 per cent, tractors grew by 1 per cent and commercial vehicles experienced a modest 2 per cent growth. "The combined March-April period shows 14 per cent yoy," says FADA President Manish Raj Singhania. "While some attribute this growth to the shift in Navratri to April instead of March last year, the overall increase was significant," adds Singhania.