India's three-wheeler sales jumped 75% in June and CV retails surpassed pre-Covid levels
- IBEF
- July 7, 2023
According to the data issued by the Federation of Automobile Dealers Associations (FADA), the sales of commercial vehicles (CV) surpassed pre-Covid levels while the three-wheeler (3W) market in India saw a gain of 75% on an annual basis in June 2023.
June's auto retail sales showed a 10% increase, with strong results in all vehicle categories, including two-wheelers (2Ws), 3Ws, passenger vehicles (PVs), tractors, and CVs, which experienced growth rates of 7%, 75%, 5%, and 41%, respectively.
For the first time, CV was no longer impacted by Covid and increased by 1.5% as compared to June 2019.
According to Mr. Manish Raj Singhania, President, FADA, "June'23 witnessed the 3W market's robust growth, primarily owing to the previous year's low base effect and positive market sentiment. The shift towards alternative fuels, predominantly electric vehicles (EVs), continues to play a significant role in driving this growth.”
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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