Oct 10, 2022
India's vehicle retail sales rose 57% during the Navratri festival this year, recording sales of nearly 5.4 lakh units, said Federation of Automobile Dealers Associations on Monday.
As per the FADA statement, the total vehicle retail sales between September 26 and October 5, 2022, stood at 5,39,227 units as compared to 3,42,459 units sold during Navratri last year.
The sales registered this year were also a record, bettering the previous best of 4,66,128 units in Navratri of 2019, it added.
Navratri sales show that customers are back in showrooms after a gap of three years, FADA President Manish Raj Singhania said.
Two-wheeler retail sales in this year's Navratri stood at 3,69,020 units against 2,42,213 units during the festive period last year, showing a growth of 52.35%. Compared to 3,55,851 units clocked in the Navratri of the pre-Covid year 2019 the two-wheeler sales growth was 3.7%.
"Two-wheeler category, which was continuously showing weakness when compared to pre-Covid months, also registered single-digit growth," PTI quoted Singhania as saying.
Passenger vehicle sales during this year's Navratri stood at 1,10,521 units against 64,850 units last year, a growth of 70.43%, FADA said.
Similarly, commercial vehicle retail also grew by 48.25% to 22,437 units from 15,135 units sold in Navratri last year.
The growth was also witnessed in the three-wheeler category, which posted sales of 19,809 units in Navratri this year compared to 9,203 units last year. Tractor sales also jumped 57.66% to 17,440 units from 11,062 units sold in Navratri 2021.
"We now hope that this trend continues till Deepawali so that apart from passenger vehicle dealers, who will see a decade high during this festive, the two-wheeler dealers also have a good season and hence helps them liquidate their stock, which they have built in anticipation of a good festive," Singhania said.
Source - economictimes.indiatimes.com
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