FADA Sales January 2023: Cumulative Auto Sales Grow By 14 Per Cent

The Federation of Automobile Dealers Associations (FADA) released the auto sales report for January 2023. In January 2023, the total auto sales increased by 14 per cent compared to January 2022 period. Overall sales, however, were still down by 8 per cent when compared to the pre-COVID month of January 2020. It should be noted that all categories were in the green with two-wheelers, three-wheelers, passenger vehicles, tractors and commercial vehicles growing by 10 per cent, 59 per cent, 22 per cent, 8 per cent and 16 per cent respectively compared to the same period last year.

Manish Raj Singhania, President, FADA said, “While sentiments are improving at a snail’s pace and are better than what it was a year ago, the rural market is yet to fully come to the party as the cost of ownership has shot up significantly while the disposable income has not increased in the same ratio. A good enquiry, healthy bookings and improved supplies are helping aid the PV segment, but it is the entry-level sub-segment which is still feeling the pinch. Apart from this, the waiting period for some models has come down, and compact SUVs, SUVs and luxury vehicles continue to witness minimum waiting of 2-3 months. The EV fame-2 subsidy along with the demand from commercial 3W space is fuelling healthy growth.”

Compared to January 2022, the PV segment witnessed a growth of 21.92 per cent as it registered 3,40,220 units in January 2023 as opposed to 2,79,050 units. The two-wheeler segment also registered a hike of 10.07 per cent recording 12,65,069 units in January 2023 compared to 11,49,351 units in the same period last year. Overall, the three-wheeler segment also witnessed tremendous growth of 58.59 per cent as it recorded a total retail of 65,796 units as against 41,487 units in January 2022.

The tractor segment also received slight relief as it registered 73,156 units in January 2023, against 67,764 units in the same period last year, witnessing a nominal growth of 7.96 per cent. The overall commercial vehicle segment managed to record a growth of 16.34 per cent as it retailed 82,428 units as compared to 70,853 units sold in January 2022.