Passenger vehicle retail sales jump 11 per cent in October on festive demand: FADA

Commercial vehicle sales, however, declined 23 per cent to 67,060 units as compared to 87,618 units in October last year.

Published: 19th November 2019 01:29 PM  |   Last Updated: 19th November 2019 01:29 PM   |  A+A-

Cars

For representational purposes

By PTI

NEW DELHI: Automobile dealers' body FADA on Tuesday said retail sales of passenger vehicles in October increased 11 per cent to 2,48,036 units against the same period last year, driven by festive demand during the month.

According to Federation of Automobile Dealers Associations (FADA), passenger vehicles (PV) sales stood at 2,23,498 units in October 2018.

Two-wheeler sales increased 5 per cent to 13,34,941 units last month as compared with 12,70,261 units in the year-ago period.

Commercial vehicle sales, however, declined 23 per cent to 67,060 units as compared to 87,618 units in October last year.

Three-wheeler sales saw an increase of 4 per cent to 59,573 units last month. Total sales across categories rose 4 per cent to 17,09,610 units in October, as against 16,38,832 units in the same month last year.

"October retails were in the positive, giving a much-needed respite to the auto industry - especially to our dealer community - after months of de-growth," FADA President Ashish Harsharaj Kale said.

The festival season saw very good footfalls at dealerships across most of the geographies, the consumer sentiment was positive, and purchase decisions were concluded as used to be during the growth years, he added.

Kale said two-wheeler inventory has reduced from an alarming level while PV inventory is also at reasonable levels.

"CV inventory has also reduced, although with retail continuing to be weak further wholesale regulation is required to reach FADA's 21 days recommended levels," he added.

With the auto industry heading into the unknown territory of BSVI transition, more needs to be done towards inventory reduction to avoid dealer losses, Kale noted.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp