Automobile sector business increased in the festive season, auto sales increased by so much percent

New Delhi: Federation of Automobile Dealers Association i.e. FADA has released a report regarding the automobile sector on Wednesday. According to which it has been revealed that in the month of October, India's auto sales have seen a strong growth of 32 percent year-on-year. In which the two-wheeler segment has been at the forefront.

In this report of FADA, it has been said that positive growth has been seen in all the vehicle series. The main reason for which is said to be the festive season and strong rural demand. It has been said in this report that in October 2024, there has been an increase of about 32 percent annually and 64 percent monthly in retail sales.

Attractive surge in two-wheeler sales

It highlighted that two-wheeler sales witnessed an impressive 36 per cent year-on-year growth, benefiting from the convergence of key festivals like Navratri and Diwali, which significantly boosted consumer demand. FADA said the surge in two-wheeler sales was further driven by attractive festive offers, new model launches and better stock availability.

strong purchasing power

According to the report, rural demand played a key role in the growth in two-wheeler sales, which was supported by increased minimum support price (MSP) for Rabi crops, which strengthened the purchasing power of farmers.

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32 percent increase year on year

The passenger vehicle (public vehicle) segment also recorded a strong performance, with sales growing by 32 percent year-on-year. This growth was mainly due to high demand during the festive season, aggressive discount offers and new model launches, especially in the SUV series.

overall demand affected

In the commercial vehicle segment, sales figures showed a modest growth of 6 per cent year-on-year, supported by growth in agricultural demand and bulk orders for container movement. The festive season boosted sales in the category, but growth remained limited to some extent due to challenges like sluggish construction activities and high vehicle prices, which impacted overall demand. Three-wheeler and tractor sales also witnessed growth, growing at 11 per cent and 3 per cent year-on-year, respectively, as demand for mobility and agricultural support remained stable.