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INDIAN AUTO INDUSTRY RECORDS HISTORIC SALES FIGURES
The Business Guardian
|December 07, 2023
In this month, 2-wheelers surged to 22.47 lakh vehicles and passenger vehicles reached 3.6 lakh vehicles, driving overall retail sales to an impressive 18% YoY growth.
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In a landmark achievement for the Indian Auto Retail Industry, the Federation of Automobile Dealers Associations (FADA) released the Vehicle Retail Data for November 2023, showcasing record-breaking sales figures. Surpassing previous highs, the month witnessed a staggering sale of 28.54 lakh vehicles, outstripping the industry’s transition period in March 2020 from BS-4 to BS-6 emission norms, which saw 25.69 lakh vehicles sold.
Breaking down the numbers, the categories of 2-wheelers (2W) and passenger vehicles (PV) hit unprecedented peaks. Twowheelers soared to 22.47 lakh vehicles, surpassing March 2020’s 20.7 lakh vehicles, while PV reached 3.6 lakh vehicles, topping October 2022’s sales of 3.57 lakh vehicles. Overall retail sales for November 2023 grew by an impressive 18 percent Year-on-Year (YoY).
The growth rates for two-wheelers, three-wheelers (3W), and PV categories were remarkable, standing at 21 percent, 23 percent, and 17 percent, respectively, on a YoY basis. However, the tractor (Trac) and commercial vehicle (CV) categories experienced a decline of -21 percent and -2 percent, respectively.
This story is from the December 07, 2023 edition of The Business Guardian.
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