Record breaker! November sees highest vehicle retail sales in 2023

The month witnessed the sale of 28.54 lakh vehicles, surpassing the previous high of March 2020, which sold 25.69 lakh vehicles during the industry's transition from BS-4 to BS-6 emission norms.

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Courtesy: forbes

Marking a historic achievement for the Indian Auto Retail Industry, the Federation of Automobile Dealers Associations (FADA) has unveiled the Vehicle Retail Data for November 2023. The overall retail sales for November 2023 have seen a growth of 18% YoY.

According to an official statement, the month witnessed the sale of 28.54 lakh vehicles, surpassing the previous high of March 2020, which sold 25.69 lakh vehicles during the industry's transition from BS-4 to BS-6 emission norms.

Record-Breaking Performance in 2W & PV Categories:

Categories like 2W & PV set new all-time highs. 2W sold 22.47 lakh vehicles, exceeding March’20's 20.7 lakh vehicles, while PV reached 3.6 lakh vehicles, surpassing Oct’22 sales of 3.57 lakh vehicles.

Sale of three-wheeler up by 23%

The organisation further shared the figures for the two-wheelers, three-wheelers (3W), and PV categories which witnessed growth rates of 21%, 23%, and 17%, respectively, on a YoY basis. However, tractor (Trac) and commercial vehicle (CV) categories experienced a drop of -21% and -2%.

The 2W category demonstrated remarkable month-on-month growth, rising by 49%, supported by a 2% growth in PV, leading the entire industry to a 35% MoM growth.

The increase is ascribed to the joyous occasion, particularly Diwali, and robust rural attitudes reinforced by abundant agricultural revenue.

High car sales are a result of the ongoing marriage season, which runs from November 23 to December 15 and is estimated to result in about 38 lakh marriages, especially in rural India.

However, FADA has noted the need for strategic adjustments in inventory management and reduction in dispatches of slow-moving vehicles to navigate through the complexities of the auto retail landscape.