According to FADA, improved vehicle supply and attractive schemes positively impacted sales in August.
According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 8.63% in August 2023, compared to the same month last year.
Overall sales for the month of August 2023 stood at 18,18,647 units, compared to 16,74,162 units in August 2022.
Tractor sales increased by 13.58%, from 65,018 units in August 2022 to 73,849 units last month.
Two-wheeler sales went up by 6.29% to 12,54,444 units from 11,80,230 units in August 2022.
Three-wheeler sales were up by 66.15% in August 2023. 99,907 units were sold, compared to 60,132 units in August 2022.
Passenger vehicle sales went up by 6.53% compared to the previous year. 3,15,153 units were sold last month, compared to 2,95,842 units in August 2022.
Commercial vehicle sales also increased by 3.23%. 75,294 units were sold in August 2023, compared to 72,940 units in the previous year.
According to FADA, improved vehicle supply and attractive schemes positively impacted sales in August. However, supply chain constraints do persist. The market also responded positively to new hybrid and CNG models, however, a constrained product range in popular segments, such as mid-size SUVs, continues to limit overall potential.
Team-BHP’s detailed analysis of the August 2023 sales figures.
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