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According to FADA President, Harish Raj Singhania, factors such as improved vehicle availability, a compelling model mix and the launch of new models played pivotal roles

November 2023 saw an overall growth of 18 percent YoY in total retail sales. The two-wheeler, three-wheeler, and passenger vehicle categories recorded impressive YoY growth rates of 21 percent, 23 percent, and 17 percent, respectively.

The first half of October 2023, marked by the Shraddh period when people largely stay away from big-ticket purchases, saw an 8 per cent YoY decline in vehicle sales.

Indian passenger vehicle retail sales decreased to 353,990 units in October. Meanwhile, wholesale numbers reached a historic high of 391,472 units, marking a 16.3 percent YoY increase, attributed to strong demand ahead of Diwali and new model launches.

FADA Results For October: The first half of October 2023, marked by the Shraddh period, saw an 8% YoY decline. However, a MoM comparison reveals a 13% surge, indicative of resilient market demand. Navratri 23 brought unprecedented sales to auto retail, surpassing the previous high of Navratri 17. YoY figures for this period show a robust 18% increase in overall auto retail, FADA said.

Overall, retail sales across vehicle segments (CV, two- and three wheeler, PV etc.) surged over 20 per cent in September as demand soared with the onset of the festival season

The PV segment, which achieved record sales in FY23, slowed down in April, primarily due to last years high base and on-board diagnostics 2A norms. This led to price hikes and advanced purchases in March, says FADA.