Vehicle Sales Down 8 Percent On-year Basis, Passenger Vehicles Sale Seen 5 Percent Decline In July According To FADA | Automobile Sales Data: Automobile sales decreased in the country, retail sales of vehicles decreased by 8 percent in July
Automobile Sales Data: Federation of Automobile Dealers Association (FADA) today...
Automobile Sales Data: Federation of Automobile Dealers Association (FADA) today released the sales data in the automobile sector in July and it has registered a decline. Compared to 15.59 lakh vehicles in July 2021, only 14.36 lakh vehicles have been sold in July 2022, which can be called a big decline. The year-on-year decline shows that there is still some worry in the automobile sector.
Vehicle sales down 8 percent year-on-year
Retail sales of vehicles declined by eight per cent year-on-year in July due to a decline in registration of passenger vehicles, two-wheelers and tractors. Auto dealers body FADA gave this information. According to the Federation of Automobile Dealers Association (FADA) data, the total retail sales of vehicles last month stood at 14,36,927 units as against 15,59,106 units in July 2021. Retail sales of passenger vehicles or passenger vehicles (PVs) fell 5 per cent year-on-year to 2,50,972 units in July 2022 from 2,63,238 units in July 2021.
FADA President Vinkesh Gulati said in a statement that the sales figures may have come down in July, but new models of vehicles are being launched in the market, especially in the compact SUV category, it is seeing more benefits.
Retail sales of two-vehicles down 11%
According to FADA data, retail sales of two-vehicles declined by 11 per cent to 10,09,574 units last month as compared to 11,33,344 units in the year-ago period i.e. July 2021.
Increase in sales of three wheelers and commercial vehicles
59,573 tractors were sold in July 2022, which is 28 percent less than 82,419 units in July 2021. However, retail sales of three wheelers and commercial vehicles have grown year-on-year in the last month. Last month, 50,349 three-wheelers were sold, which is 80 per cent more than last year. Similarly, sales of commercial vehicles stood at 66,459 units with a growth of 27 per cent.