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PVs STEAL FEB SALES, MARCH WITH HIGHEST SALES EVER
The Business Guardian
|March 10, 2024
Indian auto retail posted robust overall growth in February 2024, with 13 percent year-on-year growth across all vehicle categories, led by 13 percent growth in two-wheelers, 24 percent in 3W, 12 percent in passenger vehicles, 11 percent in tractors, and 5 percent in commercial vehicles, according to vehicle retail data released by the Federation of Automobile Dealers Associations (FADA) for the last month.
The 2W market growth was notably driven by the rural sector, demand for premium models and strong performance of entry-level segments with broader product availability and compelling offers enhancing product acceptance, notes FADA President Manish Raj Singhania. "Factors like favourable marriage dates and improved economic conditions also contributed to this positive growth," says Singhania.
The 3W market surged by 24 percent YoY, with EVs making up 53 per cent of this growth, fuelled by first-time users and a shift towards electric rickshaws, alongside better market sentiment and consumer engagement.
Dit verhaal komt uit de March 10, 2024-editie van The Business Guardian.
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