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Federation of Automobile Dealers' Association (FADA) has said that the total vehicle retail sales in India witnessed a 32 per cent on-year rise in October 2024 to 28,32,944 units with all segments including two-wheelers and passenger vehicles registering strong growth. It said the total vehicle retail sales in October 2023 stood at 21,43,929 units. The strong growth in October this year was largely driven by the rural market, especially boosting two-wheeler and passenger vehicles sales, supported by increased Minimum Support Price (MSP) for Rabi crops.

According to FADA, passenger vehicle sales grew 32.38 per cent to 4,83,159 units in October 2024, from 3,64,991 units retailed in October 2023. Two-wheeler sales for the previous month were recorded at 20,65,095 units, as compared to 15,14,634 units in October 2023, registering a growth of 36.35 per cent, while three-wheeler sales were up 11.45 per cent year-on-year to 1,22,846 in in October 2024. Tractor sales increased 3.08 per cent during October 2024 to 64,433 units, from 62,542 units a year ago.  

FADA stated that the convergence of major festivals (Navratri and Diwali) in October significantly boosted consumer demand; attractive festive offers, new model launches, and improved stock availability led to a 36 per cent year-on-year and 71 per cent month-on-month growth in two-wheelers. Besides, rural sentiments, favourable monsoon and good crop expectations, further contributed to the growth. Moreover, the 32 per cent year-on-year and 75 p