Indian passenger car retail sales up 39% in August but outlook negative

Thursday, 09 September 2021 10:54:01 (GMT+3)   |   Kolkata
       

Indian passenger car sales as reflected by new registrations rose by 39 percent year on year in August this year, but the outlook for the coming festival months of October and November is “lacklustre”, according to a statement from the Federation of Automobile Dealers Associations (FADA) on Thursday, September 9.

According to data released by FADA, passenger car retail sales or new registrations in August this year, were recorded at 253,000 units, up 39 percent year on year.

Sales of two-wheelers were recorded at 976,000 units, a growth of seven percent, while commercial vehicle sales came to 53,150 units, a rise of 97 percent, the FADA data showed.

“With original equipment manufacturers (OEMs) drastically cutting down production due to unavailability of semiconductors and chips, the shortage of containers and high metal prices, customers for the first time may not get a vehicle of their choice via lucrative schemes during this festive season,” FADA said.

“Customers, especially at the bottom of the pyramid, are shifting their priority... saving instead of spending, and this is a cause of concern with regard to demand for two-wheelers,” FADA stated.


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