Riding on the back of highest-ever registrations of passenger vehicles and three-wheelers, automobile retail sales in India jumped by 9 per cent year-on-year (YoY) in the April-September period of this fiscal, as reported by the Federation of Automobile Dealers Associations (FADA) on Thursday. According to FADA data, overall registrations in the April-September period this fiscal rose to 1.10 crore units (1,10,79,116 units) compared to 1.01 crore units (1,01,79,072 units) in the same period of the 2022-23 fiscal year.
Record-Breaking Registrations
In a statement, FADA President Manish Raj Singhania highlighted, “The narrative of H1 FY24 is one of resilience and recovery, with the total auto retail registering a 9 per cent growth year on year.”
Passenger Vehicle Segment Shows Strong Growth
During the first half of the current fiscal, passenger vehicle retail sales witnessed a substantial growth of 6 per cent, with 18,08,311 units sold, compared to 17,02,905 units in the year-ago period.
These impressive figures in the Indian auto retail sector, driven by record registrations, signify a remarkable recovery in the industry during the first half of fiscal year 2023-24. This growth reflects the resilience and strength of the automotive market despite previous challenges.
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