Cars, SUVs in the country, There are bumper sales of three-wheelers, two-wheelers and tractors. Due to this there has been a big jump in total sales. Dealers’ body FADA on Monday said motor vehicle retail sales in India witnessed double-digit growth in fiscal year 2023-24 on the back of record sales of passenger vehicles, three-wheelers and tractors. Motor vehicle retail sales increased by 10 per cent to 2,45,30,334 units in the last financial year, compared to 2,22,41,361 units in 2022-23.
Record sales of tractors last year
Federation of Automobile Dealers Association (FADA) President Manish Raj Singhania said in a statement that the Indian automotive sector has recorded double digit growth across segments on the back of strong demand for two-wheelers, three-wheelers, passenger vehicles (PV), tractors and commercial vehicles. Recorded growth. He said that especially passenger vehicles, three-wheelers and tractors witnessed record sales last year. At the same time, total registration in March stood at 21,27,177 units with an increase of three percent on annual basis. Passenger vehicle retail sales declined six percent to 3,22,345 units in March 2023 compared to 3,43,527 units.
Good demand for two wheelers and three wheelers too
However, two-wheeler registrations rose five per cent year-on-year to 15,29,875 units last month from 14,50,913 units in the year-ago period. Last month, three-wheeler sales increased by 17 percent year-on-year to 1,05,222 units. Commercial vehicle sales declined six percent last month to 91,289 units from 96,984 units in March 2023. Similarly, tractor registrations declined by three percent last month to 78,446 units as against 81,148 units in the same period a year ago.
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