Automobile retail sales up 26% to record high in Nov

PTI

New Delhi, December 9

Automobile retail sales in India clocked best-ever performance in November aided by robust registrations across segments, including passenger vehicles, two-wheelers and commercial vehicles, automobile dealer’ body FADA said on Friday.

The overall automobile retail sales rose by 26% to 23,80,465 units last month, as compared with 18,93,647 units in November 2021.

In top gear

• The overall retail sales rose to 23,80,465 units last month, as compared with 18,93,647 units in November 2021
• The sales momentum continued even after the end of the festive period with the start of the wedding season
• Passenger vehicle retail sales rose by 21% year-on-year last month to cross three lakh unit-mark
• Two-wheeler retails rose to 18,47,708 units last month, up 24%, as against 14,94,797 units in November 2021

“November 2022 has clocked highest retails in the history of Indian automobile Industry with March’20 as an exception when retails were higher due to BSIV to BSVI transition,” Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said.

The sales momentum continued even after the end of the festive period with the start of the wedding season, he added.

Passenger vehicle retail sales rose by 21% year-on-year last month to cross three lakh unit-mark in November aided by better availability of models, new launches and increase in demand in rural areas.

The overall passenger vehicle retail sales last month rose to 3,00,922 units, as compared with 2,48,052 units in November 2021.

“Better availability of model mixes from past months, new launches and increase in rural demand continues to keep the segment in healthy condition. Compact SUV and SUV category coupled with higher variant models continues to rule to roost,” Singhania stated.

Aided by brisk offtake, two-wheeler retails rose to 18,47,708 units last month, up 24%, as against 14,94,797 units in November 2021.

The commercial vehicle sales rose by 33% to 79,369 units last month, as compared with 59,765 units in last November.

Three-wheeler and tractor retails grew by 81% and 57%, respectively, last month as compared with year-ago period.

On business outlook, FADA stated: “Most of the OEMs are announcing price hikes going forward. To counter this and for the lower end of the pyramid, OEMs have started announcing discounts for slow moving products, lower variants and to clear their year-end stocks. This may help year-end sales to remain healthy.”