India's retail vehicle sales up by 14% to 1.8 million units in January: FADA

According to the Federation of Automobile Dealers Associations (FADA), retail vehicle sales in India jumped by 14% to about 1.8 million units in January 2023.

The data by FADA showed that the passenger vehicle sales also jumped by 22% on a year-on-year basis to about 340,220 units in January 2023 and grew by 8% from pre-Covid levels. In addition to it, two-wheeler sales grew by 10% to 12,65,069 units on a year-on-year basis. The data showed that the three-wheeler demand stayed strong, growing nearly by 59% and nearing pre-pandemic levels, benefiting from demand in commercial space and the government's electric vehicle subsidy for public and shared transportation.

Maruti Suzuki, which has a market share of 44.1%, registered the sale of 150,046 units in January 2023.

After the strict lockdowns in China, India is witnessing an uptick in factory activity and is improving global supplies of parts and semiconductors, while helping better vehicle supplies and longer waiting periods in the future.

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