
Historic November for auto sales in India: FADA
Passenger vehicles and two-wheelers set new all-time highs.
Passenger vehicles and two-wheelers set new all-time highs.
The auto market showed consistent demand for luxury cars and SUVs, signifying a robust consumer appetite for premium segments, says FADA.
It is alarming that inventory levels have exceeded the 60-day supply for the first time, says FADA.
Closer reading of numbers show claim of economic boom is misplaced
Entry-level PVs have fewer buyers, suggesting that customers at the bottom of the pyramid are still hesitant to upgrade from two-wheelers to four-wheelers, says FADA.
Two-wheeler sales grew 12% year-on-year in March but were down 9% from pre-Covid levels.
The auto sector recorded sustained recovery in demand amid the festival season, with Maruti Suzuki selling 1.3 lakh PV units in November.
FADA says October will see auto retail on high grounds, with dealers anticipating the month to be the “best festive in a decade” for the PV segment.
Passenger vehicle sales rose 6.51% year-on-year to 2,74,448 units in August.
Mahindra Auto sells 29,516 SUVs, a growth of 87% YoY; Hyundai sales increased by 5.3% on a YoY basis