Nearly 38 Lakh Vehicles Sold In India During 2023 Festive Season: FADA
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Highlights
- Cumulative sales grow 19 per cent year-on-year
- Passenger vehicle sales up 10.32 per cent
- Two-wheeler sales grow 20.7 per cent
The Federation Of Automobile Dealers Association (FADA) revealed that auto sales were up 19 per cent year-on-year during the 2023 festive season. The apex dealer body reported cumulative sales of 37,93,584 units – up from 31,95,213 units - during the 42-day festive period. The 2023 festive season ran from October 15 till November 25, 2023. The 2022 season was from September 26 to November 6.
Commenting on festive period retails, FADA President, Manish Raj Singhania said, "During the 42-day festive period of FY2023 (which starts on 1st day of Navratri and ends 15 days post Dhanteras), we reached a new milestone with vehicle sales climbing to 37.93 lakh, a 19 per cent increase from last year's 31.95 lakh.”
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“Record-breaking sales were reported in several categories, with rural areas particularly contributing to the surge in two-wheeler purchases. Despite initial underperformance during Navratri, particularly in the passenger vehicle sector, the situation improved by Deepawali, ending with a 10 per cent growth rate. While SUVs were the highest demanded vehicles, inventory levels for passenger vehicles remain a significant concern as OEMs continue to push further dispatch thus keeping the inventory rate at near to all-time high levels,” Singhania added.
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Speaking of the individual segments, two-wheeler sales climbed 20.71 per cent over 2022 with 28,93,107 units sold. The festive season in 2022 had seen 23,96,665 units delivered. Passenger vehicle sales were up 10.32 per cent year-on-year climbing from 4,96,047 units in 2022 to 5,47,246 units in 2023.
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The three-wheeler segment reported a strong growth of 41.39 per cent climbing from 1,01,052 units in 2022 to 1,42,875 units in 2023. Commercial vehicle sales also posted a growth, climbing 8.11 per cent over 2022. Sales in the segment stood at 1,23,784 units in the 2023 festive season, up from 1,14,498 units in 2022.
The tractor segment was the only segment to witness a marginal slide with sales standing at 86,572 units – down 0.44 per cent over 2022.
