India’s retail automobile sales up nine percent in August

Tuesday, 05 September 2023 10:55:56 (GMT+3)   |   Kolkata
       

India’s automobile sales across all categories as per new registration recorded a growth of nine percent in August this year compared to the corresponding month of the previous year, according to data released by the Federation of Automobile Dealers’ Association (FADA) on Tuesday, September 5.

According to FADA, retails sales of three-wheelers recorded the highest growth of 66 percent in August, followed by two-wheelers with six percent, passenger cars with 6.5 percent, tractors with 14 percent, and commercial vehicles with three percent year-on-year growth.

According to FADA, the main cause of concern was inventory of passenger cars at dealers, which was up at 60 percent, an all-time high, just ahead of the festival season starting next month.

“It is alarming that passenger vehicle inventory has exceeded the 60-day supply level for the first time, even before the festive season. This trend needs to be monitored by the automobile manufacturers,” FADA president Manish Raj Singhania said.

“Although the dealership network is buoyed by optimistic sentiment, FADA adopts a cautious stance, in view of the sub-optimal rainfall which could potentially affect the forthcoming festive season,” he said.


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