New Delhi: Retail vehicle sales for the month of August 2022 saw year-on-year growth of 8 per cent, said the Federation of Automobile Dealers Associations (FADA).<\/p>\n
Except for tractors, which decreased by 32 per cent, all the other categories have seen a growth in sales.
\nTwo-wheeler, three-wheeler, passenger vehicles and commercial vehicles sales were up by 8.5 per cent, 83 per cent, 6.5 per cent and 24 per cent, respectively.<\/p>\n
According to FADA, when compared with August 2019, a pre-covid month, total vehicle retails continued to fall by -7 per cent.<\/p>\n
While passenger vehicles showed double-digit healthy growth of 41 per cent, growth in commercial vehicles also turned positive by 6 per cent. All the other categories were in red with two-wheeler three-wheeler and tractors falling by 16 per cent, 1 per cent and 7 per cent, respectively.<\/p>\n
According to FADA, a good monsoon failed to ignite festive spirits thus impacting demand during Ganpati.<\/p>\n
\u201cAs semi-conductor supply continues to ease, Auto Retail and PV segment especially, geared up to have the best festive season in a decade.\u201d<\/p>\n
Commenting on August retail sales data, FADA President, Manish Raj Singhania said: \u201cAuto Retail for the month of August\u201922 saw an overall growth of 8%. August opens the door for festival season to kick in.<\/p>\n
While Dealers anticipated good Ganesh Chaturthi in August, the results thus far have not been encouraging. In spite of good monsoons, the festive season began with a dampener during Ganpati.<\/p>\n
While the two-wheeler segment has grown by 8.5 per cent year-on-year, it continues to face Covid blues due to the underperformance of Bharat and is still not above 2019 levels.<\/p>\n
This coupled with price hikes has made the two-wheeler product out of reach for most entry-level customers.<\/p>\n
\u201cWith erratic monsoon, the crop realisation has been low and flood like situation has restricted customer movement.\u201d<\/p>\n
The three-wheeler space continued its healthy double-digit growth when compared year-on-year. It has now also equalled 2019 sales for the first time.<\/p>\n
Electrification is also the highest in this category as e-Rickshaw leads the way. There is a clear indication that customers now prefer electric vehicles over internal combustion engine (ICE) vehicles as ICE three-wheeler continued to see double-digit de-growth when compared to pre-Covid levels.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: Retail vehicle sales for the month of August 2022 saw year-on-year growth of 8 per cent, said the Federation of Automobile Dealers Associations (FADA). Except for tractors, which decreased by 32 per cent, all the other categories have seen a growth in sales. Two-wheeler, three-wheeler, passenger vehicles and commercial vehicles sales were up […]<\/p>\n","protected":false},"author":1,"featured_media":9364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-9363","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/9363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9363"}],"version-history":[{"count":1,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/9363\/revisions"}],"predecessor-version":[{"id":9365,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/9363\/revisions\/9365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/media\/9364"}],"wp:attachment":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}