The apex physique additionally mentioned that the report gross sales come amid the trade’s transition to BS-6 from BS-4 emission norms.
The FADA President, Manish Raj Singhaniya famous that November 2023 witnessed a robust surge within the PV class, primarily fuelled by Deepawali and the launch of latest and interesting fashions together with improved provide chain channels.
“Nevertheless, the interval following the festivities noticed a noticeable slowdown, coupled with a essential problem of slow-moving stock because of a mismatch in demand and provide which remains to be not resolved. This challenge casts a shadow over the in any other case constructive traits, highlighting the necessity for strategic changes in stock administration,” he added.
Additional, the 2-wheelers section and passenger automobiles (PV) reached an all time excessive with 22.47 lakh and three.6 lakh automobiles bought respectively. 2W grew by 21 per cent whereas the PVs registered a progress of 17 per cent on a year-on-year foundation.
“For the 2W class, the month witnessed a big enhance in auto retail, thus making it clock all-time excessive retails, buoyed by the festive pleasure of Deepawali and enhanced by robust rural sentiments, due to thriving agricultural revenue,” mentioned Singhania.On a month-on-month foundation the 2W class grew by a outstanding 49 per cent, and the PV section grew by 2 per cent, main all the trade to a progress of 35 per cent MoM.”New product launches and higher mannequin provide additional fuelled the market’s progress, whereas electrical automobile gross sales demonstrated an encouraging upward trajectory,” the FADA president mentioned.
The three-wheelers section grew by 23 per cent with a sale of 99,890 models within the earlier month as towards 81,007 models throughout November 2022.
In the meantime, Trac and CV segments witnessed a drop of 21 per cent and a pair of per cent, pushed by poor market sentiment.
“Seasonal slumps, exacerbated by unseasonal rains damaging crops and impacting transport demand, coupled with liquidity points and delayed deliveries, additional strained the trade. States going into elections additionally added to the woes, overshadowing the transient uplift from festive gross sales and the slight improve in tourism that helped in gross sales of buses,” Singhania acknowledged