In a positive turn of events for the Indian automotive sector, retail sales of automobiles experienced a robust surge, exceeding 20 percent in the month of September. This remarkable uptick in demand was witnessed across various vehicle categories, coinciding with the onset of the festival season, as reported by the Federation of Automobile Dealers Associations (FADA) on Monday. The comprehensive analysis of automobile registrations indicates a substantial increase to 18,82,071 units in the past month, compared to 15,63,735 units recorded in September 2022, according to FADA's statement.
Strong YoY growth across vehicle segments
A year-on-year (YoY) assessment underscores the widespread growth trends across multiple segments. Two-wheeler sales displayed an impressive growth rate of 22 percent, three-wheeler retail sales soared by 49 percent, passenger vehicle sales saw a notable uptick of 19 percent, and the commercial vehicle sector reported a steady sales growth of 5 percent, as stated by FADA President Manish Raj Singhania.
However, tractor retail sales experienced a decline of 10 percent in the past month, in comparison to the corresponding period last year, Singhania observed.
Notably, passenger vehicle registrations increased by 19 percent YoY, reaching 3,32,248 units in the past month, compared to 2,79,137 units recorded in September 2022, primarily attributed to improved vehicle availability and the introduction of new product launches.
The two-wheeler segment reported an impressive growth rate of 22 percent, totaling 13,12,101 units last month, up from 10,78,286 units in September 2022. Singhania attributed this growth to the introduction of new models and attractive promotional offers, which stimulated demand, particularly in rural areas.
In the commercial vehicle category, registrations witnessed a 5 percent YoY increase, with 80,804 units registered last month. Meanwhile, three-wheeler sales experienced a remarkable 49 percent surge, totaling 1,02,426 units, compared to 68,937 units in September 2022.
In contrast, tractor sales recorded a decline, with 54,492 units sold last month, down from 60,321 units in the same month of the previous year.
Looking ahead, Singhania expressed optimism about the market's prospects, noting the upcoming Navratri festival period following the conclusion of the Shraadh period on October 14. With promising indicators and the onset of the festive season, FADA anticipates a thriving period for the auto retail sector.
FADA collected retail data from 1,352 out of 1,440 Regional Transport Offices (RTOs) across the country to compile this report.