New milestone reached now regarding auto sales in TN in this festival season!!
Posted on: 29/Nov/2023 9:28:25 AM
In the 42 day festival season from 15th October to 25th November, the sales of auto increased by a stunning 12% across TN. This has caught the attention now. As per the latest retail data from FADA or Federation of Automobile Dealers Association, Tamil Nadu`s total auto sales during the period was 232262 units from the 207739 units that were sold a year back.
In the state of TN, two wheelers sales have gone up by 10% in this period, three wheelers up to 93%, cars and SUV sales up by 20.6%, tractor sales up by 19.5%. There has been a 19% jump in the auto retails.
Mr. Manish Raj Singhania, president of FADA expressed his thoughts. He spoke about how during the 42 day period from day one of Navaratri to 15 days post Dhanteras or FY2023 a new milestone regarding sales ( 37.93 lakhs now compared to 31.05 lakhs in 2022) of vehicles was reached. He added that in the rural demand sentiment there has been a jump in the sales of 2 wheelers. It must be taken into account that the sales of 2 wheelers were up by 21%, 3 wheelers 41%, passenger vehicles 10% and commercial vehicles 8%. The superb piece of information is that the rural areas have contributed to the increase in the purchases of 2 wheelers.
There was an initial under performance in the sales during Navratri with respect to passenger vehicle or PV category. By Diwali, the situation improved and there was a 10% sale in PV across India. It is worthy to mention here that tractors saw an 8.3% decrease in the sales during Navratri then recovered well and ended with just 0.5% decrease. Robust purchasing power of rural India was brought to light by this.
