festive season And due to weddings, there was good demand for two-wheelers in the country in the month of November. Due to this, retail sales of two-wheelers increased by 11.21 percent to 32,08,719 units in November, compared to 28,85,317 units in the same month last year. According to data released by Automobile Dealers Association FADA on Monday, retail sales of two-wheelers increased by 15.8 percent to 26,15,953 units in the month of October, while in November 2023 it was 22,58,970 units. This means that even at the annual rate, two-wheeler sales have increased in November.
decline in car sales
On one hand, the sales of two-wheelers have increased, while on the other hand, a decline of 13.72 percent was recorded in the demand for cars (passenger vehicles PV) in the month of November. Car sales declined to 3,21,943 units in November, compared to 3,73,140 units in the same month a year ago. The reason for this was the various challenges being faced by the passenger vehicle segment. FADA President C.S. Vigneshwar said, in early November, there were expectations that the pace would remain the same, especially due to weddings, but the response from dealers shows that the segment has performed below expectations. Although there was some support from rural markets, mainly in the two-wheeler category, wedding-related sales remained slow, he said. On retail sales of passenger vehicles, he said, the situation was further complicated by weak market sentiment, limited product variety and inadequate offerings along with shift of festive demand to October.
Sales of commercial vehicles also decreased
According to FADA, retail sales of commercial vehicles declined by 6.08 percent to 81,967 units in November as compared to 87,272 units in November 2023. Sales of three-wheelers increased by 4.23 percent to 1,08,337 units as against 1,03,939 units in the same month a year ago. The statement said, the prospect of a good Kharif crop is likely to reduce food inflation, which is expected to improve the broader macroeconomic environment. This could result in a boost to consumer sentiment in the coming months. However, as per the response from dealers, the market sentiment in December is mixed.
