New Delhi. In this festive season, the sales of two-wheelers and three-wheelers in the Indian market have created a new record. According to the Federation of Automobile Dealers Association (FADA), increasing demand in rural areas played an important role in this growth. There has been an increase of 12% in retail sales of vehicles between October 3 and November 13, 2024. A total of 43 lakh units of vehicles were sold during this period, which is much more than last year’s 38 lakh units.
There was a tremendous increase in the sales of two-wheelers during the festive season, especially in rural areas. The offers and huge discounts given by the industry had a major contribution in this growth. Generally, the months of October and November are considered the peak of the festive season in India, when customers buy expensive items in large numbers.
Sales increased, but were less than expected
However, FADA said that the sales figures were slightly lower than expected. The association was expected to sell 45 lakh vehicles this season, but this figure could reach only 43 lakh. Natural disasters were blamed for this decline in sales.
Cyclone in Odisha and heavy rains in South India affected festive sales. Sales in many areas were also affected due to the late withdrawal of monsoon. Despite this, due to huge discounts and offers, there was a 14% increase in two-wheeler sales and 7% increase in car sales.
Positive signs for the industry
FADA had earlier reported that car sales had increased by more than 32% in October. However, inventory levels have still not returned to normal. The association believes that it may take another three months to bring the inventory to a balanced position.
This increase in the festive season is a positive sign for the automobile industry. Companies are hoping that this will help in improving inventory levels and maintaining customer demand in the coming months.
Tag: auto news, bike news
first published : November 18, 2024, 10:01 IST
