FADA Gross sales Report November 2022: Amid fears of a worldwide recession, Indian economic system is displaying indicators of increase. There was a spurt in demand within the auto sector within the month of November, attributable to which there was a powerful bounce in retail gross sales. There has additionally been a particular pace within the registration of automobiles. In accordance with knowledge from the Federation of Car Sellers Associations (FADA), complete retail gross sales of automobiles elevated by 26% to 23,80,465 items in November. In November, 2021 it was 18,93,647 items.
Retail gross sales of passenger automobiles elevated by 21% to three,00,922 items from 2,48,052 items in November 2021. Two-wheeler gross sales elevated by 24% to 18,47,708 items. This determine was 14,94,797 items in November 2021. Gross sales of three wheelers and tractors jumped by 81% and 57% respectively.
Automobiles bought lots within the festive season, there was an enormous bounce within the sale of vehicles in October, the demand for two-wheelers was low, November was the month with the very best retail gross sales
FADA President Manish Raj Singhania mentioned, November 2022 has change into the month with the very best retail gross sales within the historical past of the Indian car trade. Earlier March 2020 was an exception, when retail gross sales elevated attributable to BS-VI changing BS-IV. He mentioned that with the top of the festive season and the beginning of the wedding season, the gross sales have maintained momentum.
CNG utilization in business automobiles down: Report
The hike in pure fuel costs has introduced down the utilization of CNG in business automobiles to 9-10 per cent within the present monetary yr from 16 per cent earlier. ICRA Rankings report states that attributable to enhance in pure fuel costs globally, CNG costs have elevated by as much as 70 % within the final one yr. The worth distinction between diesel and CNG has diminished significantly, attributable to which individuals have began refraining from transferring in the direction of CNG automobiles. The share of CNG automobiles within the complete automobiles has additionally come down from 38% to 27%.
Primary causes for the increase in gross sales
marriage season begins
Higher availability of fashions
entry of recent automobiles into the market
Rising demand from rural areas
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