Vehicle sales increased by 48% in October, benefited from increased demand in the festive season

There has been a huge jump of 48 percent in the retail sales of vehicles in the country in the month of October due to the demand of the festive season. Federation of Vehicle Dealers Associations (FADA) gave this information on Monday. The total retail sales of vehicles in October stood at 20,94,378 units. This is 48 percent more than the figure of 14,18,726 units in October, 2021. In October 2022, the registration of vehicles has been eight percent more than the pre-Covid i.e. October 2019.

Boom in the sale of both passenger and commercial

Last month, all vehicle categories - passenger and commercial vehicles, two wheelers, tractors and three wheelers performed better than October 2021. Retail sales of passenger vehicles increased by 41 per cent to 3,28,645 units last month. It stood at 2,33,822 units in October 2021. Similarly, the registration of two wheelers has reached 15,71,165 units with a jump of 51 per cent last month. This figure was 10,39,845 units in October, 2021.

Retail sales of commercial vehicles grew 25 per cent to 74,443 units in October. It stood at 59,363 units in the same month a year ago. In October 2022, there has been a jump of 66 percent and 17 percent in the sales of three wheelers and tractors, respectively. FADA President Manish Raj Singhania said in a statement that October was the month of festivals. A lot of demand was witnessed during this period across all categories of dealerships. He told that the sales in October this year have also been higher as compared to the pre-Kovid month of 2019.

Two-wheeler vehicle sales also increased

In the 42-day festive period this year, the total retail sales of vehicles has increased by 29 per cent to 28,88,131 units. In the same period last year, this figure was 22,42,139 units. Retail sales of passenger vehicles increased by 34 per cent to 4,56,413 units during this period from 3,39,780 units in the same period a year ago.

During this period, two-wheeler registration increased by 26 per cent to 21,55,311 units from 17,05,456 units in the same period a year ago. Similarly, sales of three wheelers, commercial vehicles and tractors were up by 68, 29 and 30 per cent, respectively, during the festive period.

Let us tell you that the scope of electric cars is increasing rapidly in the Indian market. There is a tremendous increase in the sales of electric cars. Talking about the sales of electric cars in September 2022, a total of 3,419 units have been sold in the country last month. This time there has been an increase of 172 percent in sales as compared to September last year.

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