Retail sales of automobiles in India grow 8.31% in August 2022: FADA
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The Federation of Automobile Dealers Associations (FADA) in its latest data has showed that retail sales of automobiles in India grew 8.31 per cent in August 2022 on the back of increase in registrations of vehicles across all major segments. Total vehicle retail sales in the country stood at 15,21,490 units last month as compared to 14,04,704 units in August 2021.
According to the data, passenger vehicles (PV) retail sales stood at 2,74,448 units as compared to 2,57,672 units in the year-ago month, a growth of 6.51 per cent. Two-wheeler (2W) retail sales also grew by 8.52 per cent at 10,74,266 units in August 2022 as against 9,89,969 units in the same month last year. The three-wheeler (3W) segment witnessed the highest growth rate last month posting 83.14 per cent increase at 56,313 units, up from 30,748 units in the same month a year ago.
On the outlook, FADA said with easing of supply, the PV segment will definitely see the best ever festivities (Navratri and Diwali) in the last one decade. It said ‘along with this, if vehicle prices continue to remain stable and there are no more health related threats, we may see an uptick in the much awaited 2W space which has not shown the required growth since last festivals’. It added that while Onam and Navratri fall in September, the month also has 15-day period of Shraadh, generally considered as an inauspicious period for buying vehicles.
