Wednesday, May 31st, 2023

New year very auspicious for auto sector, 14% boom, more than 18 lakh vehicles sold


Passenger vehicles registration increased by 22 percent.
Two wheeler sales showed a jump of 10 percent.
Retail sales of three wheelers grew by 59 percent.

New Delhi, The new year is looking very auspicious for the auto sector. In the very first month of the year, there has been tremendous growth in the sale of commercial vehicles along with passenger vehicles. Total retail sales of passenger vehicles, two-wheelers and tractors have seen a jump of 14 percent in January. Federation of Automobile Dealers Association (FADA) gave information in this regard on Monday.

According to the information received from FADA, in January 2023, the total sales of vehicles of different categories increased to 18,26,669 units. On the other hand, if we look at the figures of January 2022, it was only 16,08,505 units.

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More than 3 lakh registrations in a month
In January, the registration of passenger vehicles increased by 22 percent to reach 3,40,220 units. During this one year, the registration of passenger vehicles was 2,79,050 units. Similarly, retail sales of two-wheelers increased to 12,65,069 units last month, compared to 11,49,351 units in January 2022. In this way, the sales of two-wheelers increased by 10 percent.

Retail sales of three-wheelers increased by 59 percent to 41,487 units during the period under review. At the same time, the registration of commercial vehicles increased by 16 percent to reach 82,428 units. Commercial vehicle sales in January 2022 stood at 70,853 units. Similarly, tractor sales increased by eight percent to 73,156 units last month. In January 2022, this figure was 67,764 units.

FADA President Manish Raj Singhania said that the total retail sales of vehicles in January has increased compared to the same period last year, but it is still eight percent less than the pre-Covid i.e. January, 2020. On the business outlook, Singhania said with factory activity in China picking up again, the global supply situation for components and semiconductors is expected to improve. This will improve the supply of vehicles and reduce the waiting period.

Tags: auto news, auto sales, Bike News, cars

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