Passenger automobile sales rose to 3,93,250 items final month, registering a bounce of 13% from 3,47,086 items bought in January 2023.
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PTI
“Passenger vehicle retail sales rose to a record high in January driven by robust demand for sports utility vehicles,” sellers’ physique FADA stated on February 13. Passenger automobile (PV) sales rose to 3,93,250 items final month, registering a bounce of 13% from 3,47,086 items bought in January 2023.
“SUV demand along with the introduction of new models, greater availability, effective marketing, consumer schemes and the auspicious wedding season underpinned this strong performance,” Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania stated in an announcement.
“Despite record sales, serious concerns remain regarding PV inventory level which is now in the 50-55 day range,” he added. “This calls for immediate recalibration of production from OEMs to better align with actual market demand and avoid future oversupply issues,” Mr. Singhania stated.
“The OEMs (original equipment manufacturers) must balance innovation with strategic production planning to ensure sustained success and overall market stability,” he famous. Two-wheeler sales elevated 15% yr over yr to 14,58,849 items in January as in contrast to the sales throughout the identical interval final yr.
“Improved vehicle availability, due to adjustments post-OBD 2 norm implementation, the introduction of new models and a shift towards premium options all contributed to increased demand,” Mr. Singhania stated.
“This, combined with a good harvest, a positive marriage season and effective follow-ups and offers, indicate a favourable trajectory for the two-wheeler sector,” he added. The business automobile sales witnessed flat sales development final month at 89,208 items.
Three-wheeler retail sales, nevertheless, noticed a rise of 37% to 97,675 items from 71,325 items in January 2023. Tractors sales rose 21% yr over yr to 88,671 items in January. Overall retail sales final month stood at 21,27,653 items, up 15% from 18,49,691 items in January 2023.
