Auto sales soar by 57% in Navratri 2022
Sales across five sub-segments total 539,227 units YoY, albeit on a lower year-ago base as a result of Covid-19. Compared to pre-Covid Navratri 2019, Navratri 2022 numbers are a 16% increase.
If India Auto Inc’s retail sales in September 2022 hit a new high with 1.47 million units, then October numbers are set to better that. That’s because sales have jumped 57% year-on-year during the festive Navratri season across the country.
As per retail sales data released by the Federation of Automobile Dealers Associations (FADA), overall vehicle sales across five sub-segments were 539,227 units, up 57% YoY (Navratri 2021: 342,459 units), albeit demand a year ago continued to be impacted to some extent by the Covid-19 pandemic. Compared to pre-Covid Navratri 2019, Navratri 2022 numbers are a 16% increase (see data table below).
FADA resident, Manish Raj Singhania said, “For the first time, FADA is releasing Navratri auto retail figures. Overall retails increased by a massive 57% compared to Navratri 2021. All categories also showed extremely high growth with two-wheelers, three-wheelers, commercial vehicles, passenger vehicles and tractors increasing by 52%, 115%, 48%, 70% and 58% respectively."
He added, "When compared to Navratri 2019 (which was prior to Covid), total retails increased by 16%. Here too, all categories showed positive momentum with two-wheelers, three-wheelers, commercial vehicles, passenger vehicles and tractors growing by 4%, 31%, 37%, 59% and 90% respectively."
"Navratri retails clearly shows that customers were back in showrooms after a gap of three years. In fact, the two-wheeler category, which was continuously showing weakness when compared to pre-Covid months, also registered single-digit growth.
We now hope that this trend continues till Deepavali, so that apart from PV dealers who will see a decade-high during this festive, two-wheeler dealders also have a good season and hence helps them liquidate their stock which they have built in anticipation of a good festive season.”
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