festive season lifts retail vehicle sales in India

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 festive season lifts retail vehicle sales in India

The festive and wedding season in India helped boost the country's total retail vehicles sales by 26 per cent from a year ago, according to FADA data from industry body Federation of Automobile Dealers Associations FADA Three-wheelers sales in November, with sales rising 80 per cent, followed by tractor sales, which grew 56.8 per cent, up from its lowest point in a year ago.

The sales of commercial vehicles increased 32.8 per cent, while the smallest gains were in passenger vehicles and two-wheelers, at 23.6 per cent and 21.3 per cent.

Auto sales are one of the key indicators of India's private consumption, as it has a weight of more than 50 per cent in calculating economic growth.

FADA tallies retail sales from dealers to buyers, sourcing data with the Ministry of Road Transport and Highways MORTH Data on November's vehicle supply from manufacturers to dealers is expected to come from the Society of Indian Automobile Manufacturers SIAM later this month.

Sales of two-wheeler vehicles dropped by a marginal 0.9 per cent from the pre-COVID levels of November 2019, while sales rose in all other categories, including 5.1 per cent for passenger vehicles. The total retail vehicle sales increased by 1.5 per cent compared to November 2019.

The sales volume is dominated by two-wheelers and passenger vehicles.

In November, Maruti Suzuki posted a 14.3 per cent jump in sales, while Tata Motors, TVS Motor Co and Bajaj Auto each reported a 21.4 per cent, 1.6 per cent and 19.2 per cent jump.