Indian Economy News

Automobile sales in India register double digit growth last month

Automobile retail sales grew by double digits last month, albeit from a low base, because to strong consumer demand and a rebound in economic activity. Car registrations with the RTO increased by 37% to 1,627,975 units in April 2022. When compared to April 2019, retail sales of passenger automobiles and tractors increased by 12% and 30%.

Following the switch to BSVI emission standards, the cost of buying a two-wheeler has increased by more than 20% in the last few years, denting demand, particularly at the lower end of the market.

The commercial vehicle category, is now seeing demand recovery as all sub-categories continue to trend upward, with the government's push for infrastructure spending helping sales even more.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.