Recording a growth of 26% annually, auto sales in India in November 2022 clocked record high numbers, said the Federation of Automobile Dealers Associations (FADA) on Friday. All categories of automobiles, two-wheelers, three-wheelers, passenger vehicles (PVs), tractors and commercial vehicles (CVs), registered a growth of 24%, 80%, 21%, 57% and 33%, respectively.
Around 23.80 lakh units were sold last month, compared to 18.93 lakh units in November 2021 and 23.44 lakh units in November 2019, a year before the COVID-19 pandemic.
“November 2022 has clocked the highest retails in the history of the Indian automobile industry with March 2020 as an exception when retails were higher due to BS-4 to BS-6 transition,” said Manish Raj Singhania, President, FADA.
The FADA President credited the positive run of festive sales and the Indian wedding season (from November 14 to December 14) for the sales.
Compared to the pre-COVID-19 period of November 2019, overall retails across all categories, except 2-wheelers, saw a positive bump for the second consecutive month. This segment showed a growth of 24% year on year, but fell marginally by 0.9% in comparison to November 2019.
The average inventory for PVs at the end of November ranged from 35-40 days, while inventory for 2-wheelers ranged from 30-35 days, the FADA said.