There has been a jump in the sales of vehicles in the country in the last month i.e. December 2023. According to data released by the Federation of Automobile Dealers Association (FADA), retail vehicle sales have increased by 21% in December 2023. In which the sales of 2-wheelers have registered a jump of 28% and the sales of 3-wheelers have registered a jump of 36%.
Total retail sales increased by 21%
According to FADA data released on Monday, total retail sales of vehicles stood at 1,990,915 units, which is 21.14% more than 1,643,514 units a year ago in December 2022.
However, on a monthly basis, there has been a decline of 30.25% in the sales of vehicles, because the sales of retail vehicles in November, 2023 were 28,54,242 units. During the calendar year 2023, retail sales of vehicles have increased from 2,14,92,324 units to 2,38,67,990 units on an annual basis, which is 11% more on an annual basis.
December was good in terms of retail sales: FADA President
FADA President Manish Raj Singhania said on the retail sales figures that the month of December 2023 has overall been good for Indian auto retail, a jump of 21% was recorded in total retail sales. All categories closed in the green.
A large number of marriages were a major factor in the sales of 2-wheelers, apart from this, farmers also got payment for their crops, which increased their purchasing power. Apart from this, market sentiments, large range of vehicles, models and variants, good weather also proved helpful in increasing sales.
Sales of 2-wheelers have increased by 27.56% year-on-year to 14,49,693 units during December 2023. Sales of 2-wheelers in December 2022 were 11,36,465 units. There is a decline of 35.49% on a monthly basis, as 2-wheeler sales in November 2023 were 22,47,366 units.
Sales of 3-wheelers remained strong
Similarly, sales of 3-wheelers have increased by 36.40% to 95,449 units, which has increased by 36.40% on an annual basis, but has registered a decline of 4.45% on a monthly basis.
Passenger vehicle sales have increased by 2.65% on annual basis to 2,93,005 units. There has also been a decline of 18.71% on monthly basis, in November 2023, 3,60,431 units of passenger vehicles were sold.
There is not much difference in the sales of tractors on annual basis. 78,872 units of tractors were sold in December 2023, whereas in December 2022 this figure was 78,700 units. But on monthly basis there has been a jump of 27.28% in its sales. Sales of tractors in November were 61,969 units.
