Indian auto retail sector sustains 10% Y-o-Y growth in July and three-wheeler segment shines with 74% surge: FADA Report
- IBEF
- August 8, 2023
The Federation of Automobile Dealers Associations (FADA) report recently provided insights into the performance of various segments in the automotive industry. According to the report, despite the challenging economic conditions, the auto retail sector continued to showcase resilience, maintaining a steady 10% year-on-year (YoY) growth in July, mirroring the previous month's figures.
Fortunately, during this time, growth numbers were reported for all vehicle categories. 8% year-on-year growth was recorded for two-wheelers (2W), 74% growth was recorded for three-wheelers (3W), 4% growth was recorded for passenger vehicles (PV), 21% growth was recorded for tractors, and 2% growth was recorded for commercial vehicles (CV).
Despite the short-term uncertainties, FADA remains optimistic about retail growth prospects, especially with the festive season approaching. The industry continues to adapt and innovate, striving to navigate through these challenging times and work towards a brighter future in the Indian automotive market.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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