India’s retail automobile sales were recorded at 1,550,855 units in June this year, up 27 percent over the corresponding month of the previous year, according to data released by the Federation of Automobile Dealers’ Association (FADA) on Wednesday, July 6.
FADA said that the data was based on new registrations of automobiles by transport departments of states across the country.
However, FADA noted that sales of automobile in JUne were lower than the pre-pandemic month of two years ago.
FADA president Vinkesh Gulati said, “Even as demand remained strong in the passenger vehicle segment, risks going forward are still high from inflationary pressures due to the Russia-Ukraine war and the Reserve Bank of India maintaining that high inflation was a major cause of concern, and increased interest rates. In the past few months, prices of almost all essential items have increased, putting pressure on household budgets, reducing disposable incomes that could be spent on buying passenger cars.”