Auto retail sales up 11.21% in November riding on two-wheeler demand: FADA
The Hindu
India's vehicle retail sales rise 11.21% in November, driven by two-wheelers, despite challenges in passenger vehicles and commercial segments.
Retail sales of vehicles across categories in India grew by 11.21% at 32,08,719 units in November, as compared to 28,85,317 units in the same month last year riding on two-wheeler demand, Federation of Automobile Dealers Associations said on Monday (December 9, 2024).
Retail sales of two-wheelers were at 26,15,953 units last month, as compared to 22,58,970 units in November 2023, a growth of 15.8% buoyed by the festive spillover.
On the other hand, passenger vehicle (PV) retail was down 13.72% at 3,21,943 units, as against 3,73,140 units in the year-ago month. The PV segment faced notable headwinds, Federation of Automobile Dealers Associations (FADA) said in a statement.
"While November was initially expected to build on its prior momentum, particularly due to the marriage season, dealer feedback suggests that this segment underperformed overall expectations," FADA President, C.S. Vigneshwar said in a statement.
He further said, "although rural markets offered some support, primarily in the two-wheeler category, marriage-related sales remained subdued." The late occurrence of Deepawali at the end of October also caused a spillover of festive registrations into November, affecting the month's sales trajectory, Mr. Vigneshwar added.
On PV retail, he said, "dealers cited weak market sentiment, limited product variety and insufficient new launches, compounded by the shift of festive demand into October." Mr. Vigneshwar further said, "although rural interest was present, it failed to significantly improve sentiment. Inventory levels have reduced by about 10 days, but to remain high at around 65-68 days." He reiterated FADA's request to Original Equipment Manufacturers (OEMs) to further rationalise inventory so that the industry can enter the new year on a healthier footing, reducing the need for additional discounts.
In the commercial vehicles segment, FADA said retail sales were at 81,967 units last month as compared to 87,272 units in November 2023, down 6.08%.
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