Federation of Automobile Dealers Associations (FADA) today said the highest auto retail sales was recorded in November 2022. The highest ever automobile sales last month was supported by robust registrations across various segments, such as Passenger Vehicles, Commercial Vehicles, Two-wheelers, said FADA.
Automobile retail sales saw a hike of 26% to 23,80,465 units in November 2022 against 18,93,647 units in the corresponding period last year.
In an official statement, Manish Raj Singhania, President of Federation of Automobile Dealers Associations (FADA) said, “November 2022 has clocked highest retails in the history of Indian automobile Industry with March ’20 as an exception when retails were higher due to BS IV to BS VI transition.”
Further, he added that the sales momentum continued even after the end of the festive period with the start of the wedding season.
Passenger Vehicle Sales November 2022
Coming to the Passenger Vehicles segment, its sales saw a Year-on-Year growth of 21% in November 2022 and crossed 3 lakh units milestone last month supported by new launches, availability of models and rising demand in rural areas. The overall passenger vehicle retail sales stood at 3,00,922 units in November 2022 against 2,48,052 units over the same period previous year.
Manish Raj Singhania stated, “Better availability of model mixes from past months, new launches and increase in rural demand continues to keep the segment in healthy condition. Compact SUV and SUV category coupled with higher variant models continues to rule.”
Two-wheeler Sales November 2022
The two-wheeler retail sales was reported at 18,47,708 units in November 2022, recording a growth of 24% as opposed to 14,94,797 units in the same period last year.
Commercial Vehicle Sales November 2022
The overall commercial vehicle sales witnessed a YoY growth of 33% to 79,369 units in November 2022 as against 59,765 units over the corresponding period previous year.
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Three-wheeler and Tractor Sales November 2022
The three-wheeler and tractor retail sales saw a growth of 81% and 57%, respectively last month in comparison to the year-ago period.
“Most of the OEMs are announcing price hikes going forward. To counter this and for the lower end of the pyramid, OEMs have started announcing discounts for slow-moving products, lower variants and to clear their year-end stocks. This may help year-end sales to remain healthy,” says FADA.