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Auto Sales: Due to strong sales of passenger vehicles and two-wheelers, the total retail sales of vehicles in the country jumped by 16 percent year-on-year in February. The Federation of Automobile Dealers Association (FADA), an organization of vehicle dealers, gave this information.
In February 2023, the total registration of vehicles in various categories increased by 16 percent on an annual basis to reach 17,75,424 units. In February 2022, the vehicle sales figure was 15,31,196 units.
Last month, retail sales of passenger vehicles increased by 11 percent to reach 2,87,182 units. It was 2,58,736 units in the same period a year ago. Similarly, the registration of two-wheelers increased by 15 percent to 12,67,233 units last month, compared to 11,04,309 units in February 2022.
Total retail sales of commercial vehicles increased by 17 per cent to 79,027 units in February as against 67,391 units in the same month last year. This is ten percent less than in February 2020.
Retail sales of three-wheelers increased by 81 percent to 72,994 units during the period under review. In February 2022, it was 40,224 units. Similarly, tractor sales increased by 14 percent year-on-year to 68,988 units last month.
FADA President Manish Raj Singhania said in a statement, new models coming into the market, continuous improvement in supply and the wedding season have maintained the sales momentum. He said that the registration in the two wheeler category has increased by 15 per cent year-on-year but the figure is down by 14 per cent as compared to February 2020. On the business scenario, Singhania said that many festivals are coming, due to which the sales are expected to increase.
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