Automobile retail sales in India rose 14 per cent in January on the back of robust registrations across passenger vehicles, two-wheelers and tractors, dealers' body Federation of Automobile Dealers Associations said on Monday.
Sales across categories
Total sales across categories last month rose to 18,26,669 units, as compared to 16,08,505 units in January 2022.
Passenger vehicle registrations rose to 3,40,220 units last month, an increase of 22 per cent as compared to 2,79,050 units in the year-ago period.
Similarly, two-wheeler retails rose to 12,65,069 units last month, as against 11,49,351 units in January 2022, an increase of 10 per cent.
Three-wheeler retail sales rose to 65,796 units, up 59 per cent from 41,487 units in January last year.
Commercial vehicle registrations were at 82,428 units in January, up 16 per cent from 70,853 units in the year-ago period.
Similarly, tractor sales rose by 8 per cent to 73,156 units last month, as against 67,764 units in January last year.
Federation of Automobile Dealers Associations
Manish Raj Singhania, president of the Federation of Automobile Dealers Associations (FADA), stated that while January's total retail sales increased when compared to the same month last year, they were still down 8% from the pre-Covid month of January 2020.
"While good enquiry, healthy bookings and improved supplies are helping aid this segment, it is the entry level sub-segment which is still feeling the pinch," he said.
On two-wheeler sales, he said that sentiments were improving at a snail's pace but were better than what it was a year ago.
"Rural market is yet to fully come to the party as cost of ownership has shot up significantly while disposable income has not increased in the same ratio," Singhania said.
He pointed out that the commercial vehicle sector has maintained demand due to fleet replacement, expansion in freight availability, and the government's persistent drive for infrastructure projects, helping it surpass pre-covid records.
On business outlook, Singhania said: "With China's factory activity once again gaining pace, global supplies of parts and semiconductors will see a recovery thus aiding better vehicle supplies and lower waiting period in future. This will further fuel growth for the already healthy passenger vehicle category."
With inputs from Agencies.
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