India’s Auto Retail Grows 20 Per Cent YoY as per report by FADA

The Federation of Automobile Dealers Associations (FADA) has released the retail sales numbers of the auto industry for September 2023. The industry posted a year-on-year growth of 20.36 per cent with 18,82,071 units retailed in the month, up from 15,63,735 units in September 2022. Numbers were more subdued month-on-month with overall sales up 3.49 per cent over August 2023.

Moving to the individual segments, two-wheeler sales grew by a notable 21.68 per cent over September 2022 at 12,12,101 units. The segment reported sales of 10,78,286 units in the same period last year. The 2023 numbers also saw the segment post a growth of about 2 per cent over pre-COVID numbers. Two-wheeler sales have for a long time stayed below its pre-covid peak in the Indian market.

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The three-wheelers segment saw record breaking numbers. “The segment maintained momentum, setting consecutive all-time high retail records. Sales for September peaked at 102,426 units, marking a staggering 48.58 percent growth YoY; a 5 percent growth month-over-month (MoM); and breaching the 1 lakh units mark,” FADA said. Sales in September 2022 were 68,937 units.

The passenger vehicles (PV) segment was also up 19.03 percent YoY at 332,248 units in September 2023, compared to 279,137 units the previous year same period.

The Commercial Vehicle segment also posted a year-on-year growth of 4.87 per cent rising from 77,054 units in September 2022 to 80,804 units in the same month this year. Sales in the tractor segment however posted a decline of 9.66 per cent over September 2022 and a 26.21 per cent decline as compared to August 2023. Sales in the segment stood at 54,492 in September 2023.

Conclusion

FADA said it had an optimistic outlook for the upcoming festive season. The dealer body said that it expected sales across segments to pick up post the Shraddh period which would be further buoyed by the launch of new models and variants.