Festive Period Retails
Commenting on Festive Period Retails, FADA President, Mr. Manish Raj Singhania said, "During the 42-day festive period of FY2023 (which starts on 1st day of Navratri and ends 15 days post Dhanteras), we reached a new milestone with vehicle sales climbing to 37.93 lakh, a 19% increase from last year's 31.95 lakh.
Significant growth was observed in the two-wheeler, three-wheeler, commercial vehicles and passenger vehicles, with respective rises of 21%, 41%, 8%, and 10%. Conversely, the tractor segment experienced a slight decline of 0.5%.
Record-breaking sales were reported in several categories, with rural areas particularly contributing to the surge in two-wheeler purchases. Despite initial underperformance during Navratri, particularly in the passenger vehicle sector, the situation improved by Deepawali, ending with a 10% growth rate. While SUVs were the highest demanded vehicles, inventory levels for passenger vehicles remain a significant concern as OEMs continue to push further dispatch thus keeping the inventory rate at near to all time high levels.
Tractors, which saw an 8.3% decrease in sales during Navratri, made a remarkable recovery, ending the festive period with only a 0.5% decrease. This turnaround highlights the robust purchasing power in rural India."
Source: FADA Research
Disclaimer:
The above numbers do not have figures from TS & LD.
Vehicle Retail Data has been collated as on 27.11.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,355 out of 1,442 RTOs.
42 days festive period ranges from 1st day of Navratri to 15 days post Dhanteras due to time lag for vehicle registration
Festive'23 – 15th Oct'23 - 25th Nov'23
Festive'22 – 26th Sep'22 - 6th Nov'22
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