The Federation of Automobile Dealers Associations (FADA) unveiled the Vehicle Retail Data for the 42-day festive period, showcasing a remarkable surge in vehicle sales. FADA President, Mr Manish Raj Singhania, reported that vehicle sales during the FY2023 festive period reached a new milestone, totalling 37.93 lakh, marking a significant 19% increase from the previous year’s 31.95 lakh.
The two-wheeler segment witnessed a notable rise of 21%, while three-wheelers and commercial vehicles experienced even more substantial growth with increases of 41% and 8%, respectively. Passenger vehicles also contributed to the surge with a 10% rise. In contrast, the tractor segment observed a slight decline of 0.5%.
Singhania highlighted the record-breaking sales in various categories, attributing the surge in two-wheeler purchases to robust demand from rural areas. Despite a slow start during Navratri, the passenger vehicle sector rebounded by Deepawali, concluding the festive period with a 10% growth rate. SUVs emerged as the most demanded vehicles, but concerns lingered over high inventory levels for passenger vehicles as Original Equipment Manufacturers (OEMs) continued to dispatch, maintaining inventory rates at near all-time high levels.
Tractors, initially experiencing an 8.3% sales decrease during Navratri, made a noteworthy recovery, concluding the festive period with only a 0.5% decrease. This recovery underscored the resilient purchasing power in rural India.
The detailed Vehicle Retail Data for the 42-day festive period is as follows:
| Category | Festive’23 | Festive’22 | YoY % |
|---|---|---|---|
| 2W (Two-wheelers) | 28,93,107 | 23,96,665 | 20.71% |
| 3W (Three-wheelers) | 1,42,875 | 1,01,052 | 41.39% |
| CV (Commercial Vehicles) | 1,23,784 | 1,14,498 | 8.11% |
| PV (Passenger Vehicles) | 5,47,246 | 4,96,047 | 10.32% |
| TRAC (Tractors) | 86,572 | 86,951 | -0.44% |
| Total | 37,93,584 | 31,95,213 | 18.73% |
Disclaimer:
- The figures do not include data from TS & LD.
- Vehicle Retail Data was collated as of November 27, 2023, in collaboration with the Ministry of Road Transport & Highways, Government of India, from 1,355 out of 1,442 RTOs.
- The 42-day festive period ranges from the 1st day of Navratri to 15 days post-Dhanteras, with Festive’23 spanning from October 15, 2023, to November 25, 2023, and Festive’22 from September 26, 2022, to November 6, 2022.
