Auto retail sales in India rose 8.3% year-on-year in August on improved production and demand in the month which also marked the start of the festival season in India. the country, said the Federation of Automobile Dealers Associations (FADA). still below the pre-pandemic level in the month when Ganesh Chaturthi, considered shopping-friendly, was celebrated.
Compared to August 2019, retail auto sales were down 7.5%. Dealers across the country sold 1.52 million vehicles in August, compared to 1.41 million vehicles a year ago and 1.64 million vehicles in August 2019, according to data from the Federation of Dealer Associations. automobiles.
Festival season sales in India usually start with Onam season in Kerala in mid-August and continue till Bhai Dooj around November. “While dealers were anticipating a good Ganesh Chaturthi in August, the results so far have not been encouraging,” said FADA Chairman Manish Raj Singhania. “Despite good monsoons, the festive season started with a damper during Ganpati.” Year-on-year, all segments except tractors grew over the period.
The passenger vehicle segment saw sales rise 6.5 percent year on year to 274,448 units, while two-wheeler sales rose 8.5 percent to 1.07 million units. The commercial vehicle segment continued its momentum with growth of 24% over one year to 67,158 units. Sales of three-wheelers jumped 83.14% to 56,313 units, with electric passenger Riskshaw more than doubling sales and contributing half of the segment’s figures. However, tractor retail sales continued to decline in double digits for the second month in a row as erratic rainfall led to lower kharif plantings during the season.
Although festival season sales got off to a shaky start, dealers continue to anticipate strong sales during Navratri and Diwali following improved supply. “With the easing of supply, the PV (passenger vehicles) segment is certain to see the best ever festivities (Navratri and Diwali) over the past decade,” the industry body said in a statement.
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