Almost 2.9 million vehicles were sold in India in November, topping the previous record of 2.6 million in March 2020 when the automobile industry was shifting to stricter emission norms. Sales improved 18 per cent compared to 2.409 million in November 2022.
Sales last month were helped by the festive season and 3.8 million weddings between November 23 and December 15, according to the Federation of Automobile Dealers’ Association (FADA). In November 2023, two-wheeler, three-wheeler, and passenger vehicle categories grew by 21 per cent, 23 per cent, and 17 per cent respectively year-on-year. Tractor and commercial vehicles dropped 21 per cent and 2 per cent.
Two-wheeler (2W) and passenger vehicle (PV) sales hit new highs. As many as 2.247 million two-wheelers were sold in November exceeding the March 2020 number of 2.07 million. As many as 360,000 PV were sold in November, topping October 2022 sales of 357,000. The PV category sold 4,000 units more when compared to previous highs in October 2022.
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Two-wheeler sales had “all-time high retails” in November, helped by Diwali celebrations and rural demand, said FADA. New product launches and better supply helped the two-wheeler market and electric vehicle sales “demonstrated an encouraging upward trajectory”.
“The CV [commercial vehicle] category saw a challenging November, driven by poor market sentiment. Seasonal slumps, exacerbated by unseasonal rains damaging crops and impacting transport demand, coupled with liquidity issues and delayed deliveries, further strained the industry. States going into elections also added to the woes, overshadowing the brief uplift from festive sales and the slight increase in tourism that helped in sales of buses,” said Singhania.
ALSO READ: Higher production, festival season drive domestic car sales in November
