Vehicle retail sales up by 12.51% in October 2023

Navratri of 2023 marked a milestone with retail sales soaring by 18% YoY, surpassing the figures of Navratri 2017.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 12.51% in October 2023, compared to the same month last year.

Overall sales for the month of October 2023 stood at 21,17,596 units, compared to 22,95,099 units in October 2022.

Tractor sales increased by 6.15%, from 58,823 units in October 2022 to 62,440 units last month.

Two-wheeler sales declined by 12.60% to 15,07,756 units from 17,25,043 units in October 2022.

Three-wheeler sales were up by 45.63% in October 2023. 1,04,711 units were sold, compared to 71,903 units in October 2022.

Passenger vehicle sales were down by 1.36% compared to the previous year. 3,53,990 units were sold last month, compared to 3,58,884 units in October 2022.

Commercial vehicle sales increased by 10.26%. 88,699 units were sold in October 2023, compared to 80,446 units in the previous year.

According to FADA, Navratri of 2023 marked a milestone with retail sales soaring by 18% year-over-year, surpassing the figures of Navratri 2017. Except for tractors, which saw an 8% decline, all categories exhibited commendable growth.

Team-BHP’s detailed analysis of the October 2023 sales figures.

 

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