Automobile Retail sales rise 7% in Jan, passenger vehicle sales up 16%
New Delhi: Automobile retail sales in India grew 7% year-on-year in January, reaching 22.9 lakh units, driven by strong demand across all segments, according to the Federation of Automobile Dealers Associations (FADA).
"Each vehicle category—two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles—witnessed positive momentum, reflecting sustained consumer confidence and steady market recovery," said FADA president C S Vigneshwar was quoted as saying by the Times of India.
Passenger vehicle sales saw a sharp 16% year-on-year jump to 4.6 lakh units last month.
While demand remained strong, dealers noted that last year's heavy discounting had played a role in clearing older inventory.
Inventory levels improved, declining by about five days to 50-55 days, indicating better supply-demand balance, the report said.
Two-wheeler sales rose 4% year-on-year to 15.2 lakh units from 14.6 lakh in January 2023.
Meanwhile, electric vehicle (EV) sales surged 19.4% month-on-month and 17.1% year-on-year to 1,69,931 units, according to FADA data, Business Standard reported citing the FADA report.
FADA compiles its data from the Ministry of Road Transport and Highways (MoRTH) and 1,375 of the 1,436 regional transport offices across the country.
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