Festive Season 2023 Sales See Growth of 18 Per Cent

The Federation of Automobile Dealers Associations (FADA) has released the sales data for the 42-day festive period between October 15 and November 25, 2023. During this period, which is counted from the 1st day of Navratri till 15 days after Dhanteras, the automotive industry saw total sales of 37.93 lakh units, a year-on-year growth of 18.73 per cent. 

Manish Raj Singhania, President of FADA, said, “Significant growth was observed in the two-wheeler, three-wheeler, commercial vehicles and passenger vehicles. Record-breaking sales were reported in several categories, with rural areas particularly contributing to the surge in two-wheeler purchases.”

As per FADA’s research, the two-wheeler segment saw total sales of 28.93 lakh units, which is a 20.71 per cent year-on-year growth compared to the festive period in 2022. Similarly, the three-wheeler segment also grew by 41.39 per cent, having sold 1.43 lakh units in the latest festive period. Commercial vehicles registered the smallest growth figure of 8.11 per cent with 1.24 lakh units sold. The passenger vehicle segment segment saw sales of 5.47 lakh units, with a YoY growth of 10.32 per cent. The only segment which saw a decline in sales was tractors, which saw a decline of nearly 0.5 per cent with total sales of 86,572 units. 

FADA says this data does not include sales figures from Telangana and Lakshadweep and data has been gathered from the Ministry of Road Transport & Highways and 1,355 out of 1,442 regional transport offices in the country. FADA also says that SUVs were the highest in demand but original equipment manufacturers (OEMs) have been pushing despatches, resulting in high-level inventories.