November sees highest sales in the history of automobile industry in India

Around 23.80 lakh units were sold in November this year, compared to 18.93 lakh units in November 2021 and 23.44 lakh units in November 2019, a pre-Covid year.

All categories of automobiles saw growth in November, data shows. 2-wheelers, 3-wheelers, passenger vehicles (PVs), tractors and commercial vehicles (CVs) each saw a growth of 24%, 80%, 21%, 57% and 33% respectively.

Data source: FADA

“November 2022 has clocked the highest retails in the history of the Indian automobile industry with March 2020 as an exception when retails were higher due to BS-4 to BS-6 transition,” said Manish Raj Singhania, President, FADA.

“The baton was passed by the positive run of festive sales to the Great Indian Wedding Season (from November 14 to December 14) where around 32 lakh weddings will be solemnised across the country,” Singhania added.

Compared to the pre-Covid period of November 2019, overall retails across all categories, except 2-wheelers, saw a positive bump for the second straight month.

“The 2W segment showed a huge growth of 24% YoY but fell marginally by 0.9%, when compared to November 2019, a pre-covid year. This segment is slowly turning the tides from negative to positive as the same can be witnessed from retail sales due to the ongoing wedding season,” Singhania said.

The average inventory for PVs at the end of November ranged from 35-40 days while inventory for 2-wheelers ranged from 30-35 days.