Chennai. The Federation of Automobile Dealers Associations (FADA) said the automobile sector recorded a 19 per cent growth in retail sales during the 42-day festive period.
The Federation of Automobile Dealers Associations (FADA) on Tuesday released vehicle retail data for the 42-day festive period, which began on the first day of Navratri and ended 15 days after Dhanteras.
According to Manish Raj Singhania, President, FADA, a new milestone was reached with vehicle sales reaching 37.93 lakh, which is 19 per cent higher than last year’s festive period of 31.95 lakh.
Two-wheelers, three-wheelers, commercial vehicles and passenger vehicles witnessed significant growth with growth of 21 per cent, 41 per cent, 8 per cent and 10 per cent respectively. In contrast, the tractor segment saw a marginal decline of 0.5 per cent.
Record-breaking sales were recorded across many categories, with rural areas particularly contributing to the increase in two-wheeler purchases.
Despite initial poor performance during Navratri, especially in the passenger vehicle sector, the situation improved by Diwali and ended with a growth rate of 10%.
FADA said that while sports utility vehicles (SUVs) were the most sought-after vehicles, inventory levels for passenger vehicles remain a significant concern as automakers push forward dispatches, keeping inventory rates at their lowest ever. remains at the highest level.
Tractor sales witnessed a decline of 8.3 per cent during Navratri, but there was a significant improvement and the festive period ended with a decline of only 0.5 per cent. This change highlights the strong purchasing power in rural India, FADA said.
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