Vehicle sales up y-o-y by 14% in March

5 Apr 2023 , 11:58 AM

The Federation of Automobile Dealers Associations (FADA) has reported that retail vehicle sales in India rose by 14% yoy in March. 

With the exception of tractors, all categories experienced significant double-digit growth. Two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles saw growth rates of 12%, 69%, 14%, and 10%, respectively.

According to the Federation of Automobile Dealers Associations (FADA), retail vehicle sales in India rose by 14% yoy in March, except for tractors which only saw a 4% growth. 

FADA also noted that US Government agencies have expressed concerns over the potential arrival of El Nino for the third consecutive month. This could lead to poor monsoon and hinder rural India’s growth potential, which may have an impact on the tractor sales in the future.

The Federation of Automobile Dealers Associations (FADA) pointed out that although the two-wheeler segment experienced growth compared to the previous year, it is still considerably behind pre-pandemic levels. This implies that rural India is still struggling to cope with the effects of high inflationary costs.

India’s three-wheeler segment achieved a new retail sales record, surpassing the previous high observed in March 2020 when the industry transitioned from BS-4 to BS-6 emission standards.

The two-wheeler category, on the other hand, experienced a seven-year low, with overall retail sales of 15.9 million. Despite this, the three-wheeler segment continued to demonstrate robust growth and has now returned to its pre-pandemic levels.

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