Federation of Automobile Dealers Associations (FADA) has said that automobile retail sales in India rose by 9 per cent in August 2023 aided by sales growth in all segments, including passenger vehicles and two wheelers. The total retail sales across segments rose to 18,18,647 units in August 2023, up 9 per cent, from 16,74,162 units in August 2022.

FADA further said passenger vehicle registrations increased by 7 per cent to 3,15,153 units in August 2023 from 2,95,842 units in August 2022. Similarly, two-wheeler sales saw a jump of 6 per cent to 12,54,444 units as compared with 11,80,230 units in the same month last year. Commercial vehicle registrations increased by 3 per cent to 75,294 units in August 2023 from 72,940 units in the same month last year. Tractor sales jumped 14 per cent to 73,849 units in August 2023 as against 65,018 units in the year-ago period. Three-wheeler retail sales saw a jump of 66 per cent to 99,907 units in August 2023 from 60,132 units in August 2022.

FADA President Manish Raj Singhania has stated that in the passenger vehicle segment, improved vehicle supply, bolstered by expanded customer schemes, has maintained positive market dynamics. It said despite positive growth, consumer sentiment remained ambivalent, impacting conversion rates and intensifying competition among key players. As the Indian automobile industry enters September, the outlook remains cautiously optimistic, shaped by a multitude of factors that vary across vehicle segments.