The industry group Federation of Automobile Dealers Associations (FADA), retail auto sales in India have increased by 10% annually in July as a result of strong sales of passenger, two-wheeler, and commercial vehicles. According to the report, the sale increased to 17,70,181 units in July 2023, as compared to the total retail sales across all categories were 16,09,217 units in July 2022.As per the official statement from the Federation of Automobile Dealers Associations (FADA), sales of passenger vehicles increased by 4% last month to 2,84,064 units from 2,73,055 units in the same time the previous year.“The month saw a surge in orders and timely OEM supplies, especially with the introduction of new products. However, severe monsoons and flood-like situations especially in North India, impacted sales,” FADA President Manish Raj Singhania said. The SUV remains to be the favourite section of the buyers, he added.President of FADA, further added, “The CV segment showed mixed dynamics. Despite robust stock availability and growth in areas like school buses, challenges from erratic weather and high vehicle costs affected demand. However, infrastructure project boosts remain a silver lining.”A press release issued by FADA:Julys Auto Retail Performance: Auto retail sales in July maintained a steady 10% YoY growth, mirroring the previous month. Notably, all vehicle categories recorded positive figures: Two Wheelers (2W) at 8%, Three-Wheelers (3W) at 74%, Passenger Vehicles (PV) at 4%, Tractors (Trac) at 21%, and Commercial Vehicles (CV) at 2%.Three-Wheeler Segment Shines: July was particularly commendable for the 3W category, which registered an all-time high sale of 94,148 units, translating to a 74% YoY and 9% MoM growth.FADA which represents, almost 15,000 dealers from the automobile industry, said that they are still cautious about the growth of the business.
