Vehicle retail sales register healthy 11% YoY growth in Sept: FADA
New Delhi, Oct 4 (KNN) On YoY basis, total vehicle retail for the month of September saw a growth of 11 per cent, said the Federation of Automobile Dealers Associations (FADA) on Tuesday.
As per FADA’s Vehicle Retail Data for September 2022 all the other categories except tractors which decreased by -1.5 per cent, rest all were in green.
In September, 2022 2W, 3W, PV and CV were up by 9 per cent, 72 per cent, 10 per cent and 19 per cent respectively.
When compared with September 2019, a pre-covid month, total vehicle retail continued to be lower by -4 per cent.
PV segment sustained its healthy run by growing 44 per cent. Similarly, growth in 3W, Tractor and CV also closed in green by increasing 6 per cent, 37 per cent and 17 per cent respectively.
It is only the 2W segment which continues to be a drag as the same fell by -14 per cent.
Rural India in states like HP, HR, UK, UP and JH showed weakness with lower contribution to Auto Retail especially in entry level 2W and PV category.
While overall retail in PV will be at a decade high during this festive season, it is the 2W category where Auto Industry continues to pin its hope for showing healthy growth.
Commenting on the performance FADA President, Manish Raj Singhania said, “September witnessed both, the inauspicious period of Shradh (a.k.a Pitru Paksha) from September 10-25 and festive period which began with Navratri on September 26. Due to this, the full potential for the month was not realised as it should have been.”
The month of October will see Auto Retail on high grounds with 24 days of festive season out of the total 31 days, said FADA.
Dealers anticipate this to be the best festive in a decade for PV segment as we anticipate even higher sales during the month.
While semi-conductor supply continues to ease, FADA requests OEMs to match supply as per the demand so that PV sales can further receive a nitro-boost. (KNN Bureau)