Indian Auto Industry Sees Its Biggest-Ever August Sales At Over 24.23 Lakh Units, Up 17.51 Pc

(MENAFN- IANS) New Delhi, Sep 7 (IANS) The Indian auto retail industry saw its biggest-ever August sales at 24,23,201 units, up 17.51 per cent year-on-year, as two-wheelers, passenger vehicles, commercial vehicles, tractors and three-wheelers each set fresh August records, the data released by the Federation of Automobile Dealers Associations (FADA) showed on Monday.

Growth was led by wheeled construction equipment at 31.45 per cent, two-wheelers at 19.69 per cent, passenger vehicles at 16.14 per cent and commercial vehicles at 14.45 per cent, while three-wheelers grew 8.64 per cent and tractors were effectively flat at +0.84 per cent last month.

However, retail sales eased 6.48 per cent over a record July on the seasonal monsoon lull and a festival calendar that shifted Ganesh Chaturthi and the spillover of Onam-led buying into September, said FADA President Sai Giridhar.

Two-wheeler retails stood at 17,14,610 units in August, up 19.69 per cent YoY - the best-ever August and 2W's first genuinely new August peak since 2018.

Passenger vehicle retails were 4,02,398 units, up 16.14 per cent YoY - the best-ever August and the first time PV has crossed the 4-lakh mark in an August - though 3.40 per cent lower month-on-month.

Commercial vehicle retails came in at 90,769 units, up 14.45 per cent YoY - the best-ever August - though 8.93 per cent on-month on the seasonal freight lull, the data showed.

Moreover, three-wheelers came at 1,22,281 units (+8.64 per cent YoY) posted their best-ever August, with EV penetration at 65.30 per cent.

For September, dealer sentiment stays constructive but has moderated from July's peak.

About 67.09 per cent of dealers expect growth, 27.35 per cent a flat market and 5.56 per cent de-growth (against 74.30 per cent who expected growth heading into August).

Expectations rest on the festive season proper now beginning - Ganesh Chaturthi, the Onam sales spillover and the onset of Navratri - with 43.59 per cent of dealers reporting festive booking pipelines already building.

Against this, dealers weigh a widening monsoon deficit affecting rural enquiries, and the fresh round of OEM price increases, effective September 1, said the FADA.

-IANS

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