Vehicle retail sales up by 32% in October 2024

Passenger vehicle sales went up by 32.38% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 32.14% in October 2024 compared to the same month last year. Overall sales for October 2024 stood at 28,32,944 units, compared to 21,43,929 units in October 2023.

Tractor sales increased by 3.08%, from 62,507 units in October 2023 to 64,433 units last month.

Two-wheeler sales went up by 36.34% to 20,65,095 units from 15,14,634 units in October 2023.

Three-wheeler sales were up by 11.45% in October 2024. 1,22,846 units were sold, compared to 1,10,221 units in October 2023.

Passenger vehicle sales went up by 32.38% compared to the previous year. 4,83,159 units were sold last month, compared to 3,64,991 units in October 2023.

Commercial vehicle sales increased by 6.37%. 97,411 units were sold in October 2024, compared to 91,576 units in the previous year.

The passenger vehicle segment experienced growth of 75% MoM, driven by the festivals coinciding in October, boosting consumer purchasing.

Dealers highlighted that aggressive offers, attractive schemes and new model introductions further stimulated demand. Enhanced vehicle availability and strong market interest, especially for SUVs and new products, also contributed to the exceptional sales.

Team-BHP's detailed analysis of the October 2024 sales figures.