Passenger Vehicle Retail Sales Drop 5% On Year In July Says FADA

4 Aug 2022 , 01:12 PM

Automobile retail sales in India fell 8 per cent on an annual basis in July on account of fall in registrations of passenger vehicles, two-wheelers and tractors. According to the data released by the automobile dealers body FADA, the overall automobile retail sales last month stood at 14,36,927 units, as compared with 15,59,106 units in July 2021. Passenger vehicle retail sales witnessed a dip of 5 per cent at 2,50,972 units last month, as against 2,63,238 units in the year-ago period. Federation of Automobile Dealers Associations (FADA) President Vinkesh Gulati noted that though there is a blip in July numbers, the segment continues to see introduction of new models, especially compact SUVs, aiding growth. The two-wheeler retail sales stood at 10,09,574 units in July, down 11 per cent from 11,33,344 units in July 2021. Tractor sales also dropped to 59,573 units last month, down 28 per cent from 82,419 units in the year-ago period. Three-wheeler sales rose by 80 per cent to 50,349 units, as compared to 27,908 units in the year-ago period. Similarly, commercial vehicle sales witnessed an increase of 27 per cent at 66,459 units in July, as against 52,197 units in the same month last yearPowered by Capital Market – Live News