FADA has also released the vehicle retail data for FY2024, which shows an overall growth of 10.29%.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 3.14% in March 2024 compared to the same month last year.

Overall sales for the month of March 2024 stood at 21,27,177 units, compared to 20,62,409 units in March 2023.

Tractor sales were down by 3.33%, from 81,148 units in March 2023 to 78,446 units last month.

Two-wheeler sales went up by 5.44% to 15,29,875 units from 14,50,913 units in March 2023.

Three-wheeler sales were up by 17.13% in March 2024. 1,05,222 units were sold, compared to 89,837 units in March 2023.

Passenger vehicle sales went down by 6.17% compared to the previous year. 3,22,345 units were sold last month, compared to 3,43,527 units in March 2023.

Commercial vehicle sales also decreased by 5.87%. 91,289 units were sold in March 2024, compared to 96,984 units in the previous year.

FADA has also released the vehicle retail data for FY2024, which shows an overall growth of 10.29% compared to the previous fiscal.

Passenger vehicle sales stood at 39,48,143 units, up by 8.45% compared to FY2023. The 2-wheeler segment also registered a growth of 9.30% with 1,75,17,173 units of sales. The LCV category saw a nominal degrowth of 1.09%.

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

Passenger vehicle sales went up by 12.36% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 13.07% in February 2024 compared to the same month last year.

Overall sales for the month of February 2024 stood at 20,29,541 units, compared to 17,94,866 units in February 2023.

Tractor sales increased by 11%, from 69,034 units in February 2023 to 76,626 units last month.

Two-wheeler sales went up by 13.25% to 14,39,523 units from 12,71,073 units in February 2023.

Three-wheeler sales were up by 23.88% in February 2024. 94,918 units were sold, compared to 76,619 units in February 2023.

Passenger vehicle sales went up by 12.36% compared to the previous year. 3,30,107 units were sold last month, compared to 2,93,803 units in February 2023.

Commercial vehicle sales also increased by 4.78%. 88,367 units were sold in February 2024, compared to 84,337 units in the previous year.

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

Passenger vehicle sales went up by 13.30% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 15.03% in January 2024 compared to the same month last year.

Overall sales for the month of January 2024 stood at 21,27,653 units, compared to 18,49,691 units in January 2023.

Tractor sales increased by 21.16%, from 73,184 units in January 2023 to 88,671 units last month.

Two-wheeler sales went up by 14.96% to 14,58,849 units from 12,68,990 units in January 2023.

Three-wheeler sales were up by 36.94% in January 2024. 97,675 units were sold, compared to 71,325 units in January 2023.

Passenger vehicle sales went up by 13.30% compared to the previous year. 3,93,250 units were sold last month, compared to 3,47,086 units in January 2023.

Commercial vehicle sales also increased by 0.11%. 89,208 units were sold in January 2024, compared to 89,106 units in the previous year.

The PV segment achieved all-time high retail sales last month. SUV demand, along with the introduction of new models, greater availability, effective marketing, consumer schemes and the auspicious wedding season, underpinned this strong performance. However, serious concerns remain regarding PV inventory levels, now in the 50-55 day range.

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

Passenger vehicle sales went up by 10.61% in 2023. 38,60,268 units were sold compared to 34,89,953 units in CY2022.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 21.14% in December 2023 compared to the same month last year.

Overall sales for the month of December 2023 stood at 19,90,915 units, compared to 14,43,514 units in December 2022.

Tractor sales increased by 0.22%, from 78,700 units in December 2022 to 78,872 units last month.

Two-wheeler sales went up by 27.56% to 14,49,693 units from 11,36,465 units in December 2022.

Three-wheeler sales were up by 36.40% in December 2023. 95,449 units were sold, compared to 69,976 units in December 2022.

Passenger vehicle sales went up by 2.65% compared to the previous year. 2,93,005 units were sold last month, compared to 2,85,429 units in December 2022.

Commercial vehicle sales also increased by 1.31%. 73,896 units were sold in December 2023, compared to 72,944 units in the previous year.

Vehicle Retail data for CY2023:

According to the data shared by FADA, 2,38,67,99 vehicles were sold during the year, registering a growth of 11.05% compared to CY2022.

Passenger vehicle sales went up by 10.61% in 2023. 38,60,268 units were sold compared to 34,89,953 units in CY2022.

The 2-wheeler segment registered a growth of 9.45%. 1,70,61,112 units were sold in CY2023. 

3-wheeler sales went up by 58.50%, with 10,80,653 units sold. The tractor and commercial vehicle segment registered a growth of 7.09% and 8.28%, respectively.

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

Shailesh Chandra said, “The shift to Vahan data drives the whole culture towards the real demand”.

Indian carmakers have been dispatching vehicles to their dealers based on retail performance, which doesn't give the exact picture of actual sales. Now, Tata Motors has taken the initiative to change this practice. 

Tata has aligned its sales planning and demand forecasting with vehicle registration data, which is the best indicator of the conclusion of the sales cycle, as opposed to retail numbers. 

Shailesh Chandra, MD of Tata Passenger Vehicles and Tata Passenger Electric Mobility said, "The company rolled out the Vahan-based system of assessing sales and dealer performance in October and has benefitted from the move. On one hand, it has helped the automaker align supplies to demand better and pare inventory. On the other hand, dealers have benefitted as it has freed up working capital."

Chandra added that it has enabled the carmaker to maintain a healthy inventory by reducing dispatches to dealers. The average inventory at dealers was negative in the December quarter compared with previous quarters. During this period, the average monthly number of vehicles registered was 50,386 units, higher than the average dispatches of 46,029 units.

“The shift to Vahan data drives the whole culture towards the real demand,” Chandra added. Dealers say the new Vahan-based system has improved their cash cycle.

Source: ET

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.

Passenger vehicle sales were up by 10.32% from 4,96,047 units to 5,47,246 units.

According to data shared by the Federation of Automobile Dealers Associations (FADA), 37,93,584 vehicles were sold during the 42-day festive period in India. An 18.73% increase over the previous year.

Passenger vehicle sales were up by 10.32% from 4,96,047 units to 5,47,246 units, while 2-wheeler sales increased by 20.71% from 23,96,665 units to 28,93,107 units.

The 3-wheeler segment recorded the highest growth of 41.39%. 1,42,875 units were sold during the 2023 festive season compared to 1,01,052 units last year. Commercial vehicle sales were up by 8.11% from 1,14,498 units to 1,23,784 units, while tractor sales saw a decline of 0.44%.

Manish Raj Singhania, FADA President said, “Record-breaking sales were reported in several categories, with rural areas particularly contributing to the surge in two-wheeler purchases. Despite initial underperformance during Navratri, particularly in the passenger vehicle sector, the situation improved by Deepawali, ending with a 10% growth rate. While SUVs were the highest demanded vehicles, inventory levels for passenger vehicles remain a significant concern as OEMs continue to push further dispatch thus keeping the inventory rate at near to all-time high levels.

Tractors, which saw an 8.3% decrease in sales during Navratri, made a remarkable recovery, ending the festive period with only a 0.5% decrease. This turnaround highlights the robust purchasing power in rural India.”

Passenger vehicle sales went up by 19.03% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 20.36% in September 2023, compared to the same month last year.

Overall sales for the month of September 2023 stood at 18,82,071 units, compared to 15,63,735 units in September 2022.

Tractor sales dropped by 9.66%, from 60,321 units in September 2022 to 54,492 units last month.

Two-wheeler sales went up by 21.68% to 13,12,101 units from 10,78,286 units in September 2022.

Three-wheeler sales were up by 48.58% in September 2023. 1,02,426 units were sold, compared to 68,937 units in September 2022.

Passenger vehicle sales went up by 19.03% compared to the previous year. 3,32,248 units were sold last month, compared to 2,79,137 units in September 2022.

Commercial vehicle sales also increased by 4.87%. 80,804 units were sold in September 2023, compared to 77,054 units in the previous year.

According to FADA, compared to the pre-pandemic period, overall retail sales have increased by 14%, signalling a healthy recovery. The 2W category showed a 2% growth for the first time. The 3W segment also recorded consecutive all-time high sales.

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

According to FADA, improved vehicle supply and attractive schemes positively impacted sales in August.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 8.63% in August 2023, compared to the same month last year.

Overall sales for the month of August 2023 stood at 18,18,647 units, compared to 16,74,162 units in August 2022.

Tractor sales increased by 13.58%, from 65,018 units in August 2022 to 73,849 units last month.

Two-wheeler sales went up by 6.29% to 12,54,444 units from 11,80,230 units in August 2022.

Three-wheeler sales were up by 66.15% in August 2023. 99,907 units were sold, compared to 60,132 units in August 2022.

Passenger vehicle sales went up by 6.53% compared to the previous year. 3,15,153 units were sold last month, compared to 2,95,842 units in August 2022.

Commercial vehicle sales also increased by 3.23%. 75,294 units were sold in August 2023, compared to 72,940 units in the previous year.

According to FADA, improved vehicle supply and attractive schemes positively impacted sales in August. However, supply chain constraints do persist. The market also responded positively to new hybrid and CNG models, however, a constrained product range in popular segments, such as mid-size SUVs, continues to limit overall potential.

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

Passenger vehicle sales went up by 4.03% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 10.00% in July 2023, compared to the same month last year.

Overall sales for the month of July 2023 stood at 17,70,181 units, compared to 16,09,217 units in July 2022.

Tractor sales increased by 21.06%, from 74,977 units in July 2022 to 90,765 units last month.

Two-wheeler sales went up by 8.15% to 12,28,139 units from 11,35,566 units in July 2022.

Three-wheeler sales were up by 74.35% in July 2023. 94,148 units were sold, compared to 54,000 units in July 2022.

Passenger vehicle sales went up by 4.03% compared to the previous year. 2,84,064 units were sold last month, compared to 2,73,055 units in July 2022.

Commercial vehicle sales also increased by 2.02%. 73,065 units were sold in July 2023, compared to 71,619 units in the previous year.

According to FADA, despite heavy monsoons and a tilt towards EVs, the 2-wheeler segment showed resilience. In the PV segment, there was a surge in orders but flood-like situations in the North impacted sales.

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