Vehicle sales gained tremendous momentum in the Indian auto market during the festive season. According to FADA (Federation of Automobiles Dealers Associations), a growth of 19% was recorded on annual basis during this period.
In the festive season data released by FADA, a period of 42 days has been taken from the first day of Navratri to 15 days after Dhanteras.
During this period, total vehicle sales increased by 19% on annual basis to 37.93 lakh units. A tremendous growth ranging from 8% to 41% has been seen in 2-wheeler, 3-wheeler, commercial vehicles and passenger vehicles.
Festive Season 2023 Sales Data (YoY)
- 2-Wheeler sales reached 28,93,107 units with a growth of 20.71%.
- 3-Wheeler sales reached 1,42,875 units with a growth of 41.39%.
- Commercial vehicle sales reached 1,23,784 units with an increase of 8.11%.
- Passenger vehicle sales reached 86,572 units with an increase of 10.32%.
- Tractor sales recorded a decline of 0.44%, total sales stood at 86,572 units.
A major share in 2-wheeler sales came from rural areas. After weak performance in Navratri, the situation improved in Diwali. Especially there was improvement in the passenger vehicle sector. The demand for SUVs was highest.
Inventory at a worrying level
According to FADA, the inventory level for passenger vehicles remains worrying. Because companies are continuing dispatches and inventory is approaching all-time high.
Recovery in tractor sales
There was a decline of 8.3% in tractor sales during Navratri. But later this segment made a good recovery and at the end of the period the total decline was only 0.5%. Total tractor sales in the festive season stood at 86,572 units.
