India’s automobile retail sales as denoted by new registrations have been recorded at 2.034 million units in July this year, a rise of 13.8 percent year on year, according to data released by the Federation of Automobile Dealers Association (FADA) on Monday, August 5.
Passenger vehicle sales grew 10.2 percent to 320,129 units in July, while two-wheeler sales rose 17.2 percent to 1.443 million units, both year on year.
Commercial vehicle sales rose by 5.9 percent year on year to 80,057 units in July, according to the FADA data.
FADA said that consumer sentiment remained low in some regions owing to heavy rains and economic uncertainties, and that dealers are currently facing financial pressure due to high inventory levels and interest costs, even while the market is seeing increased competition and heavy discounting in the passenger vehicle segment.