4.22 million units of passenger vehicles sold in FY24. Two-wheeler sales grew by over 13% to 17.9 million units, while commercial vehicle sales remained flat at 967,000 units. The industry shifted to 20% ethanol blend, boosting electric vehicle demand. Optimism prevails with positive macroeconomic outlook.
Vehicle registrations in India reached 2,127,653 units last month, marking a significant increase compared to the same period last year, according to the Federation of Automobile Dealers Association (FADA). Two-wheeler sales grew by 15%, driven by the rural market, while passenger vehicle sales reached an all-time high. However, high inventory levels and potential caution from consumers due to upcoming elections could pose challenges for auto dealers.
Vehicle registrations in India reached 2,127,653 units last month, marking a significant increase compared to the same period last year, according to the Federation of Automobile Dealers Association (FADA). Two-wheeler sales grew by 15%, driven by the rural market, while passenger vehicle sales reached an all-time high. However, high inventory levels and potential caution from consumers due to upcoming elections could pose challenges for auto dealers.
According to data collected from the VAHAN portal of the Ministry of Road, Transport & Highways (MoRTH) by the Federation of Automobile Dealers Association (FADA), a total of 1,990,915 vehicles were sold last month. This represents a growth of 21.14% compared to the 1,643,514 units sold in the same period the previous year.
TVS Motor Company reported 21% increase in total dispatches, reaching 4,34,714 units in October, marking its highest-ever monthly sales. The company s two-wheeler sales surged by 22%, with domestic two-wheeler sales growing by 25%. The iQube electric scooter sales soared, and total exports also registered a significant growth of 6% in the same period.