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Vehicle retail sales up by 18% in November 2023

Passenger vehicle sales went up by 17.19% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 18.46% in November 2023, compared to the same month last year.

 

Overall sales for the month of November 2023 stood at 28,54,242 units, compared to 24,09,535 units in November 2022.

 

Tractor sales dropped by 21.28%, from 78,720 units in November 2022 to 61,969 units last month.

 

Two-wheeler sales went up by 21.08% to 22,47,366 units from 18,56,108 units in November 2022.

 

Three-wheeler sales were up by 23.31% in November 2023. 99,890 units were sold, compared to 81,007 units in November 2022.

 

Passenger vehicle sales went up by 17.19% compared to the previous year. 3,60,431 units were sold last month, compared to 3,07,550 units in November 2022.

 

Commercial vehicle sales also dropped by 1.82%. 84,586 units were sold in November 2023, compared to 86,150 units in the previous year.

 

According to FADA, November 2023 witnessed a strong surge in the PV category, primarily fuelled by Deepawali and the launch of new models. The improved supply chains, coupled with new launches, effectively catered to the festive demand, marking the peak point in sales. However, the period following the festivities saw a noticeable slowdown, coupled with a critical challenge of slow-moving inventory due to a mismatch in demand and supply.

 

Team-BHP's detailed analysis of the November 2023 sales figures.

 
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