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Auto cellular retail sales in India witnessed a ten% annual growth in July pushed by sturdy sales throughout passenger automobiles, two-wheelers and business automobiles, trade physique FADA stated on Monday.
Total retail sales throughout segments rose to 17,70,181 models final month, as in comparison with 16,09,217 models in July 2022.
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Passenger automobile sales noticed a rise of 4% to 2,84,064 models final month, as in comparison with 2,73,055 models in the year-ago interval, the Federation of Automobile Dealers Associations (FADA) stated in an announcement.
“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 stated.
SUVs continued to stay a well-liked selection for consumers, he added.
Two-wheeler retail sales rose by 8% to 12,28,139 in July, as in opposition to 11,35,566 models in the identical interval final yr.
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Mr. Singhania stated regardless of challenges like heavy monsoons and a tilt in the direction of EVs, the two-wheeler section confirmed resilience with elevated demand and belief in respected manufacturers.
Commercial automobile retail sales noticed a 2% year-on-year soar in sales to 73,065 models, from 71,619 models in July 2022.
“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,” Singhania stated.
Three-wheeler sales rose 74% year-on-year, whereas tractor sales witnessed a wholesome growth of 21% final month.
FADA, which represents over 15,000 car sellers, stated it stays cautious in phrases of enterprise outlook going forward.
“While caution remains the operative word in the short term, FADA is hopeful about retail growth prospects, especially with the festive season on the horizon,” it stated.
The entry-level class in the two-wheeler section continues to be a trigger for concern, FADA stated.
In the CV house, there are apprehensions relating to streamlined mortgage disbursements for consumers, it added.
Besides, stock degree in PV has breached the 50-days mark in anticipation of upcoming competition season and the slowdown in entry-level automobile vertical stays, FADA stated.
“A larger concern is the IMD’s projection of a below-average rainfall in August, potentially leading to lower crop yields. This could impact the purchasing power, especially in rural regions,” it added.
