Passenger vehicle retail sales in India witness 5% decline in August 2024: FADA
Federation of Automobile Dealers Associations (FADA) in its latest data has showed that passenger vehicle retail sales in India witnessed a 5 per cent on-year decline in August 2024 on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains. The overall passenger vehicle (PV) registrations in August 2024 stood at 3,09,053 units, as compared to 3,23,720 units in August 2023.
According to the data, commercial vehicle registrations saw a 6 per cent year-on-year dip in August, while tractor retail sales also witnessed a drop of 11 per cent as compared to the year-ago period. Two-wheeler sales, however, increased 6 per cent year-on-year to 13,38,237 units in August, as compared to 12,59,140 units in the same month last year, on the back of improved stock availability and the onset of the festive season.
It further stated that three-wheeler retail sales also increased by 2 per cent to 1,05,478 units in August 2024, as compared to 1,03,782 units in the year-ago period. Overall registrations in August 2024 saw an increase of 3 per cent year-on-year at 18,91,499 units, as against 18,38,501 units in August last year.
