Auto sales up 48% in October; all vehicle segments gain in festive season: FADA
According to the Federation of Automobile Dealers Associations (FADA), vehicle retail sales increased 48% in October compared to the same month in the previous fiscal year. In October, 2,094,378 automobiles were sold, up from 1,418,726 in the same month the previous year. This year's October sales were 8% more than the same month last year, when 1,933,484 copies were sold.
In October 2022, two-wheeler sales climbed by 51%, three-wheeler sales increased by 66%, passenger vehicles (PV) increased by 41%, tractors increased by 17%, and commercial vehicles (CV) increased by 25%. The PV segment increased by 1% year on year to 328,645 units, and by 18% compared to 2019. The market remains in great demand, particularly for sport utility vehicles and small SUVs.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.