Retail Auto Sales Fell By 10.7% In January, Says Dealers Body
NDTV
Automobile companies' retail sales fell by 10.70 percent in January 2022 compared to the corresponding period of last year
Automobile companies' retail sales fell by 10.70 percent in January 2022 compared to the corresponding period of last year, according to data released by the Federation of Automobile Dealers Associations (FADA).
FADA is the apex national body of the automobile retail industry in the country, representing 26,500 dealerships across India.
On a year on year (YoY) basis, three-wheeler and commercial vehicles sales were up by 30 percent and 20.5 percent respectively, while two-wheeler vehicles, passenger vehicles and tractor sales fell by 13 percent, 10 percent, and 10 percent respectively. The non-availability of passenger vehicles due to semi-conductor shortage continues to create problems.
While commercial vehicles and especially heavy commercial vehicles (HCVs) continue to perform well in pockets, the two-wheelers continue to show weak performance due to rural India remaining in distress. The passenger vehicle inventory continues to remain at a historic low of 8-10 days while two-wheeler inventory has reduced from alarming levels to 25-30 days.
