Auto retail sales rise 7% in January; cars up 16%

Sales in urban areas outpaced rural on y-o-y basis, growing by 5% compared to 4%

- Press Trust of India

NEW DELHI: Automobile retail sales in India rose 7% year-on-year in January at 22,91,621 units, driven by robust demand across segments, dealer's body Fada said on Thursday.

Overall retail sales stood at 21,49,117 units in January 2024. "Our observations indicate that each vehicle category -2W, 3W, PV, tractor and CV- witnessed positive momentum, pointing toward sustained consumer confidence and steady market recovery," the Federation of Automobile Dealers Associations (Fada) President C S Vigneshwar said in a statement.

Passenger vehicle retail sales jumped 16% year-on-year to 4,65,920 units last month.

Many dealers noted improved demand but also pointed to last year's heavy discounting, which helped clear older models and shift registrations, Vigneshwar said.