FY2024 opens on a slower note with overall sales at 1.72 million units; 7 percent decline in two-wheeler retails and 1 percent for passenger vehicles drag overall April 2023 numbers down.
The Federation of Automobile Dealers Associations (FADA) today released vehicle retail sales numbers for April 2023. Overall retails at 1.72 million units across five vehicle categories last month translate into a 4.03% decline year on year (April 2022: 17,97,432 units.
The sharp 7.30% fall in the two-wheeler segment as well as the 1.35% decline in passenger vehicle sales have contributed to the overall decline in India Auto Inc’s on-ground retails in the first month of FY2024. A close look at the data table below reveals that sales of passenger-carrying three-wheelers and light commercial vehicles also took a hit last month compared to their sales a year ago.
Commenting on April 2023’s performance, FADA President Manish Raj Singhania stated: “FY2024 has begun on a subdued note with April experiencing a 4% YoY overall decline. Although the three-wheeler segment enjoyed robust growth of 57% YoY, the tractor and commercial vehicle segments only grew by a modest 1% and 2%, respectively. Meanwhile, the two-wheeler and PV categories experienced YoY degrowth of 7% and 1%, respectively.”
layers –Suzuki and Royal Enfield – did well to increase their industry market share to 5% and 4.94% respectively.
As per Vahan retail sales data, a total of which translates into 5.34% of total two-wheeler retails of 12,29,911 units. This is a 23% YoY increase in numbers and the 4% EV share in April 2022 retails of 13,26,773 units.
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