Due to the high demand for both passenger cars and two-wheelers, retail sales of autos in India climbed by a double-digit percentage in February compared to the same month last year, according to the automobile dealers’ group FADA.
Total registrations across segments increased by 16% year-on-year to 17,75,424 units last month, as compared to 15,31,196 vehicles in February 2022. Passenger vehicle retail sales increased by 11% to 2,87,182 units last month, against 2,58,736 units in the last year.
“Introduction of new models, continuously improving supply, coupled with healthy booking-to-cancellation ratio and wedding bells kept the momentum going for the segment,” Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania told in a statement.
Two-wheeler registrations raised 15 percent last month to 12,67,233 units, from 11,04,309 units in February 2022. “The two-wheeler category witnessed a growth of 15 percent year-on-year but was down 14 percent when compared to the pre-Covid month of February’20,” he added.
Total commercial vehicle retail sales in February improved 17 percent to 79,027 units, as compared to 67,391 units in the same month last year. Three-wheeler retail sales witnessed a massive 81 percent growth in registrations at 72,994 units, when compared with 40,224 units in February 2022.
On the business outlook, Singhania told that multiple festivals in the short term are expected to push sales.