Bengaluru, 15th November 2024 : The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for 42 days festive period.
Festive Period Retails
Commenting on 42-days festive period (from 1st day of Navratri to 15 days post Dhanteras) retails, FADA President, Mr. C S Vigneshwar said, “I am delighted to announce that the automobile retail sector has achieved a new milestone, surpassing last year’s festive records. We witnessed a remarkable surge in numbers since the beginning of Navratri, nearly hitting our forecasted target with 42.88 lakh vehicles registered during this period—a growth of 11.76% over last year’s 38.37 lakh units.
Two-wheeler sales were particularly robust, registering a 13.79% growth to reach 33.11 lakh units, largely driven by strong rural demand. As expected, Passenger vehicles bounced back after a lull, growing by 7.10% to 6.03 lakh units, spurred by pent-up demand and unprecedented discounts available in the market.
While we celebrate these achievements, we acknowledge that we could have fully met or even exceeded our targets of 45L units if not for the unseasonal heavy rains in South India, especially in Bengaluru and Tamil Nadu, and the Cyclone Dana that affected Odisha.
As the festivities conclude, FADA anticipates passenger vehicle stock levels will reduce further from what we reported in our October retail data press release. However, FADA advises caution as the complete picture on inventory will emerge by month-end.
With 1.5 months remaining before the calendar year ends, FADA urges OEMs to focus on liquidating 2024 stock so that Dealers can enter 2025 with ideal FADA-recommended 21 days of inventory.
Looking ahead, the auto industry is yet to fully benefit from a government push in infrastructure spending, which we expect will bolster commercial vehicle sales. Additionally, tractors should perform better, supported by good rainfall and the government’s increase in the Minimum Support Price (MSP) of crops, putting more money into farmers’ hands.”
Chart showing Vehicle Retail Data for 42 days Festive Period
CATEGORY | Festive’24 | Festive’23 | Growth % |
2W | 33,11,325 | 29,10,141 | 13.79% |
3W | 1,59,960 | 1,49,764 | 6.81% |
CV | 1,28,738 | 1,27,436 | 1.02% |
PV | 6,03,009 | 5,63,059 | 7.10% |
TRAC | 85,216 | 86,640 | -1.64% |
Total | 42,88,248 | 38,37,040 | 11.76% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 14.11.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,368 out of 1,430 RTOs.
- 42 days festive period ranges from 1st day of Navratri to 15 days post Dhanteras due to time lag for vehicle registration
- Festive’24 – 3rd Oct’24 – 13th Nov’24
- Festive’23 – 15th Oct’23 – 25th Nov’23
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