MY KOLKATA EDUGRAPH
ADVERTISEMENT
regular-article-logo Monday, 26 February 2024

Indian auto industry reports 19 per cent growth in retail sales during festive season

During the period, which starts from the first day of Navratri and ends 15 days after Dhanteras, passenger vehicle retail sales rose to 5.47 lakh units, up 10 per cent from 4.96 lakh units a year ago

Our Special Correspondent Calcutta Published 29.11.23, 10:40 AM
In fast lane

In fast lane Sourced by the Telegraph

Automakers reported a 19 per cent growth in retail sales during the festival period at 37.93 lakh units compared with 31.95 lakh units a year ago.

The strong sales have provided some respite to the dealers amid growing concerns over high inventory levels.

ADVERTISEMENT

During the period, which starts from the first day of Navratri and ends 15 days after Dhanteras, passenger vehicle retail sales rose to 5.47 lakh units, up 10 per cent from 4.96 lakh units a year ago.

“While passenger vehicle sales remained muted till Navratri-Durga Puja with just a 4 per cent increase, sales picked up during Dhanteras-Diwali to close with a 10 per cent growth,” said Saharsh Damani, chief executive officer of the Federation of Automobile Dealers Associations (Fada).

Sports utility vehicles were the most sought-after segment. However, the inventory levels for passenger vehicles remain a significant concern as OEMs continue to push further dispatch, thus keeping the inventory rate near all-time high levels, Fada said.

Three-wheeler sales jumped 41 per cent and two-wheelers 21 per cent, while commercial vehicles reported 8 per cent growth during the period.

Two-wheeler registrations rose to 28.9 lakh units from 23.9 lakh units a year ago, fuelled by rural demand.

Commercial vehicle sales rose to 1.23 lakh units in the 42-day window.

Tractor sales fell 0.5 per cent, though it made a turnaround after reporting an 8.3 per cent drop during Navratri.

“This turnaround in tractors highlights the robust purchasing power in rural India,” Fada president Manish Raj Singhania said. The low tractor sales can be attributed to the dent in monsoons this year, added Damani.

Scrapping unit

Tata Motors launched its fourth vehicle scrapping facility in Chandigarh on Tuesday.

The plant can disassemble 12,000 end-of-life vehicles each year.

The facility is developed and operated by Tata Motors’ partner Dada Trading Company and is equipped to scrap both passenger and commercial vehicles, regardless of their brand. There are similar Tata facilities in Jaipur, Bhubaneshwar and Surat.

Named “Re.Wi.Re — Recycle with Respect”, the facility was unveiled by Shailesh Chandra, managing director, of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.

“Tata Motors has always been at the forefront of embracing innovation and sustainability to shape the future of the automotive industry. The establishment of the fourth such facility is a testament to our pursuit of reducing carbon emissions, promoting a circular economy and cultivating a culture of recycling,” Chandra said.

“By encouraging vehicle owners to retire their older, more polluting commercial and passenger vehicles, we are leaping towards a more sustainable future,” he said.

Follow us on:
ADVERTISEMENT