Key Points
Vehicle registrations - a proxy for retail sales - increased by nearly a fifth to a record 3.8 million units this festive season amid robust consumer demand in the local market..
As per data collated by the Federation of Automobile Dealers Association (FADA), as many as 3,793,584 vehicles were registered in the 42-day period between Navratri and Bhai Dooj, which is an increase of 19% over 3,195,213 units sold in this period in 2022...
FADA President Manish Raj Singhania said, "During the 42-day festive period of FY2023 (which starts on 1st day of Navratri and ends 15 days post Dhanteras), we reached a new milestone with vehicle sales climbing to 3.79 million units, a 19% increase from last year's 3.19 million units...
Sales grew across categories rising by by 21%, 41%, 8% and 10% in the two-wheeler, three-wheeler, commercial vehicles and passenger vehicle segments, respectively..
For the entire period from Onam to Bhai Dooj, industry estimates as many as 11.38 lakh passenger vehicles were sold in the local market this year an increase of 41% over 8.10 lakh units reported in the same period in 2022..
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