Total vehicle retail sales in India in October sees 32% on-year rise to 28,32,944 units: FADA

The full conveyance retail income successful India witnessed a 32 per cent on-year emergence successful October to 28,32,944 units with each segments including two-wheelers and rider vehicles registering beardown growth, Federation of Automobile Dealers' Association (FADA) said connected Wednesday.

The full conveyance retail income successful October 2023 stood astatine 21,43,929 units, arsenic per FADA.

The beardown maturation successful October this twelvemonth was mostly driven by the agrarian market, particularly boosting two-wheeler and rider vehicles sales, supported by accrued Minimum Support Price (MSP) for Rabi crops, FADA said.

Passenger conveyance income grew 32.38 per cent to 4,83,159 units, from 3,64,991 units retailed successful October 2023, it stated.

Two-wheeler income for the erstwhile period were recorded astatine 20,65,095 units, arsenic compared to 15,14,634 units successful October 2023, registering a maturation of 36.35 per cent, portion three-wheeler income were up 11.45 per cent year-on-year to 1,22,846 successful in October 2024, it said.

Tractor sales, according to FADA, accrued 3.08 per cent during October to 64,433 units, from 62,542 units a twelvemonth ago.

The convergence of large festivals (Navratri and Diwali) successful October importantly boosted user demand; charismatic festive offers, caller exemplary launches, and improved banal availability led to a 36 per cent year-on-year and 71 per cent month-on-month maturation successful two-wheelers, according to FADA.

Besides, agrarian sentiments, favourable monsoon and bully harvest expectations, further contributed to the growth, it stated.

Moreover, the 32 per cent year-on-year and 75 per cent month-on-month emergence successful rider conveyance income was driven by festive demand, assertive offers, and caller exemplary introductions, it said.

FADA remains optimistic astir near-term maturation of the wide automobile manufacture peculiarly with the wedding play ahead.

However, imaginable challenges specified arsenic inventory overstock and economical headwinds whitethorn impact income momentum towards the extremity of the year, it said.