Retail sales of passenger vehicles during the festive season grew at a moderate pace of around 6 per cent year-on-year (YoY) to around 6.5 lakh units
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The data reveals that two-wheeler sales were particularly robust, registering a 13.79 per cent growth to reach 33.11 lakh units
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As per the data, a total 1,07, 520 units were sold in October 2024 as against 1,30,046 units sold in October 2023
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This represents a decline of 1.92 per cent compared to Rs 3,52,832.02 million in the same period last year
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The report notes that all major vehicle categories showed positive growth, highlighting a vibrant festive season and robust rural demand as key drivers
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Export performance was similarly positive, up 23 per cent on a year-on-year (YoY) basis and 2 per cent on a month-over-month (MoM) basis
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Industry insiders attribute the restrained growth in overall numbers to several carmakers deliberately limiting production to keep inventories balanced
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The report indicates mixed sentiment as two-wheelers and tractors showing resilience, while passenger and commercial vehicles face a more challenging environment
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