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Automobile retail gross sales in India rose by 9 per cent in August aided by gross sales progress in all segments, together with passenger automobiles and two wheelers, sellers’ physique FADA mentioned on Tuesday.
The whole retail gross sales throughout segments rose to 18,18,647 models final month, up 9 per cent, from 16,74,162 models in August 2022.
Passenger car registrations elevated by 7 per cent to three,15,153 models final month from 2,95,842 models in August 2022.
“In the passenger vehicle segment, improved vehicle supply, bolstered by expanded customer schemes, has maintained positive market dynamics,” the Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania mentioned in an announcement.
Similarly, two-wheeler gross sales noticed a bounce of 6 per cent to 12,54,444 models as in contrast with 11,80,230 models in the identical month final 12 months.
“Despite positive growth, consumer sentiment remained ambivalent, impacting conversion rates and intensifying competition among key players,” Singhania famous.
Commercial car registrations elevated by 3 per cent to 75,294 models final month from 72,940 models in the identical month final 12 months.
Tractor gross sales jumped 14 per cent to 73,849 models in August as in opposition to 65,018 models within the year-ago interval.
Three-wheeler retail gross sales noticed a bounce of 66 per cent to 99,907 models in August from 60,132 models in August 2022.
“As the Indian automobile industry enters September, the outlook remains cautiously optimistic, shaped by a multitude of factors that vary across vehicle segments,” Singhania mentioned.
The onset of the festive season, starting with Onam, has uplifted market temper, improved liquidity and eased earlier bottlenecks within the provide chain throughout all classes, he added.
Lack of adequate rainfall might precipitate an increase in inflation, adversely affecting shopper buying energy and diminishing demand, Singhania said.
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This meteorological shortfall wouldn’t solely jeopardise the yield of the continuing kharif crops but additionally solid a shadow on the following sowing season for rabi crops, he added.
“Such developments would be particularly inopportune as they would coincide with the peak of India’s festive season, notably Navratri and Deepawali, traditionally periods of heightened consumer activity,” Singhania mentioned.
FADA mentioned it collated car knowledge for August from 1,352 out of 1,438 RTOs (regional transport workplaces) throughout the nation.
First printed on: 05-09-2023 at 11:00 IST
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