In accordance with information collated by Federation of Car Sellers Affiliation (FADA), 2,117,596 automobiles had been registered final month, which is a decline of seven.73% over 2,295,099 models bought in the identical interval final fiscal.
Automobile gross sales, nonetheless, rose by 12.51% sequentially indicating resilient demand within the native vehicle market. FADA President Manish Raj Singhania mentioned, “The month (October) commenced beneath the shadow of the inauspicious Shraddh interval, persisting till the 14th. Consequently, a YoY comparability might not precisely replicate the precise trajectory of progress within the Indian auto retail sector. Compared MoM, auto retails flourished, attaining a 13% improve, with contributions from all classes.”
Whereas gross sales of two-wheelers went up by 15% on a month-on-month foundation, these of three-wheelers and passenger automobiles elevated by 2.23% and 6.54%, respectively. Registrations of tractors and business automobiles went up by 14.5% and 9.8% sequentially.
| CATEGORY | OCT 2022 | OCT 2023 | % CHANGE YoY | SEP 2023 | % CHANGE MoM |
| Two-wheelers | 1,725,043 | 1,507,756 | -12.60 | 1,312,101 | 14.91 |
| Three-wheelers | 71,903 | 104,711 | 45.63 | 102,426 | 2.23 |
| Passenger automobiles | 358,884 | 353,990 | -1.36 | 332,248 | 6.54 |
| Tractors | 58,823 | 62,440 | 6.15 | 54,492 | 14.59 |
| Industrial automobiles | 80,446 | 88,699 | 10.26 | 80,804 | 9.77 |
| Complete | 2,295,099 | 2,117,596 | -7.73 | 1,882,071 | 12.51 |
Client demand was significantly robust throughout the Navratri with retail gross sales surging by 18% year-over-year, surpassing the figures of Navratri 2017. Apart from tractors, which noticed a decline of 8% (to 19,218 models), all classes reported good progress. Two-wheelers, three-wheelers, business automobiles, and passenger automobiles skilled will increase of twenty-two% (to 540,325 models), 43% (to 32,210 models), 9% (to 27,446 models), and seven% (140,082 models), respectively.
Singhania knowledgeable two-wheelers gross sales noticed robust traction final month, buoyed by rural demand and higher availability of fashions in addition to financing options. “States going into elections additionally injected optimism into the market, resulting in a rise in authorities spending and improved liquidity. Regardless of a shift in pageant dates, with Diwali shifting to November, the anticipation of the festive season stimulated buy intent and sellers reported good inventory preparation and sturdy floor efforts that led to an uptick in gross sales figures, showcasing a resilient and adaptive market”, he mentioned. Two-wheeler shares within the community stand at 40-45 days.
Within the three-wheeler section, an increase in demand for e-rickshaws helped up volumes. Strategic value help from producers throughout the festivals additionally helped improve retail gross sales of business automobiles. Singhania mentioned, “The demand for mild and small business automobiles surged, pushed by infrastructure improvement actions and the necessity for automobile alternative. Wholesome demand was witnessed particularly in segments like cement, iron ore and coal transport.”
Passenger automobile makers did file an uptick in bookings throughout the Navratri as a result of introduction of latest fashions, significantly within the SUV section. “Nonetheless, the affect of native elections and market saturation meant that the festive spirit did not translate uniformly into gross sales throughout all areas”, Singhania mentioned. Stock of passenger automobiles within the channel at present stands at 63-66 days.
Close to-term, ongoing festivities and elevated client desire for electrical automobiles are anticipated to push up gross sales of two-wheelers. Demand for business automobiles too are anticipated to stay robust this month, with festive and building actions enhancing numbers.
Nonetheless, Singhania mentioned, the PV section is navigating by way of a “difficult section”. “Festive days may spike bookings, but the shadow of year-end reductions looms over fast gross sales. Excessive stock ranges in PVs, at a important 63-66 days vary, demand pressing consideration from OEMs. With out substantial interventions and if Diwali gross sales do not rise to the event, the burden of unsold inventory might result in important supplier misery”, he mentioned.