Business News Asia
According to the Federation of Automobile Dealers Associations (FADA), festivals and weddings in India are boosting car sales. The country’s total was up 26% in November from a year earlier.
The FADA report shows that sales of three-wheelers increased the most in November. Sales were up 80%, while tractor sales were up 56.8%. Commercial vehicle sales were up 32.8%, with the smallest increase in two-wheelers at 23.6% and passenger cars at 21.3%. Car sales are one of the key indicators for assessing private consumption in India, as they account for more than 50% of economic growth calculations.
FADA counts retail sales from dealers to buyers. The data is provided jointly with the Ministry of Road Transport and Highways (MORTH), while data on manufacturers’ vehicle deliveries to dealers in November is expected from the Society of Automobile Manufacturers (SIAM) later this month.
Two-wheeler sales decreased slightly by 0.9% compared to November 2019, while sales in all other categories increased, including 5.1% for passenger cars.
Overall, retail vehicle sales increased 1.5% compared to November 2019, with two-wheelers and passenger cars generally accounting for the majority of sales. Earlier this month, market leader Maruti Suzuki reported a 14.3% increase in November sales, while Tata Motors, TVS Motor Co and Bajaj Auto reported sales increases of 21.4%, 1.6% and 19.2%, respectively.