In recent data, FADA said retail sales of two-wheelers witnessed a year-on-year growth of 6.28 per cent, despite a monthly decline of 7.29 per cent, mainly due to rain disruptions and market saturation.
FADA said passenger vehicle (PV) sales declined 4.53% year-on-year and 3.46% month-on-month.
Meanwhile, commercial vehicle (CV) sales saw a sharp decline, down 8.5% month-on-month and 6.05% year-on-year, attributed to weather-related disruptions and weak industrial demand. Tractor sales fell 11.39% year-on-year.
“This monsoon season brought with it unpredictable weather, starting with extreme heat waves that delayed the monsoons and led to heavy rainfall that caused flood-like conditions in several areas. These weather anomalies have had a direct impact on the Indian automobile retail market. While the two-wheeler and three-wheeler segments managed to register a growth of 6.28% and 1.63%, respectively, other categories faced significant setbacks. FADA President Manish Raj Singhania said.
FADA said that the next fSummer festivals like Ganesh Chaturthi, Onam and Navratri are expected to boost consumer confidence, particularly in urban areas.
The auto body said there could be a pause in PV sales during the shradh period from September 17 to October 2, 2024.
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