Passenger car gross sales surge to document excessive in January led by sturdy SUV demand, wedding ceremony season: FADA – India TV

Passenger car retail gross sales surged to an all-time excessive in January, fueled by sturdy demand for sports activities utility automobiles (SUVs) and the continuing wedding ceremony season, in accordance with the Federation of Car Sellers Associations (FADA).

Final month, passenger car (PV) gross sales reached 393,250 models, marking a notable enhance of 13 per cent from 347,086 models recorded in January 2023.

FADA President Manish Raj Singhania attributed this sturdy efficiency to the rising demand for SUVs, bolstered by elements such because the launch of latest fashions, enhanced availability, efficient advertising methods, client incentives, and the auspicious event of weddings.

Regardless of the record-breaking gross sales figures, Singhania expressed issues relating to the stock ranges of passenger automobiles, which presently stand within the vary of 50-55 days. He emphasised the necessity for unique gear producers (OEMs) to regulate their manufacturing ranges promptly to align with precise market demand, thereby averting potential oversupply points sooner or later.

Singhania confused the significance for OEMs to strike a steadiness between innovation and strategic manufacturing planning to make sure long-term success and stability within the general market.

Within the two-wheeler section, gross sales noticed a big enhance of 15 per cent year-on-year, reaching 1,458,849 models in January. Elements contributing to this progress embody improved car availability post-implementation of the OBD 2 norm, the introduction of latest fashions, and a shift in the direction of premium choices, coupled with beneficial market circumstances comparable to an excellent harvest and the continuing wedding ceremony season.

Business car gross sales skilled stagnant progress final month, with 89,208 models bought. Nevertheless, three-wheeler retail gross sales surged by 37 per cent to 97,675 models, in comparison with January 2023. Tractor gross sales recorded a 21 per cent year-on-year enhance, reaching 88,671 models in January.

General, retail gross sales throughout all segments totaled 2,127,653 models in January, reflecting a sturdy progress of 15 per cent in comparison with January 2023.

(With PTI inputs)

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