In November, the automotive industry witnessed an impressive 18% surge in sales compared to the same period last year, as highlighted by data released by the Federation of Automobile Dealers Associations (FADA). This growth encompassed two-wheelers, three-wheelers, and passenger vehicles, marking a commendable performance across the board.
Maruti Suzuki, Hyundai Motor, and Tata Motors emerged as the frontrunners in the passenger vehicle segment, while Tata Motors and Mahindra dominated the commercial vehicle sales charts. According to FADA figures, a total of 28.54 lakh vehicles were sold during November, setting a new benchmark and surpassing the previous record established in March 2020 during the industry's transition to BS-6 emission norms.
The sales figures were led by unprecedented records in both two-wheeler and passenger vehicle categories. Two-wheeler sales reached an all-time high of 22.47 lakh units, spurred notably by the festive season, marking a staggering 49% increase compared to the previous month. Passenger vehicle sales also saw a noteworthy rise of 2%, contributing to an overall industry-wide growth of 35% month-on-month.
Manish Raj Singhania, President of FADA, attributed the surge in two-wheeler sales to Diwali festivities and robust rural sentiments. He noted, "New product launches and improved model supply further bolstered market growth, while the electric vehicle segment showcased promising growth."
Singhania highlighted the influence of festive fervor and new model launches in boosting passenger vehicle sales. However, he pointed out a slowdown post-festivities, compounded by challenges related to inventory management due to a persistent demand-supply mismatch, reported Business Today.
Top performers in the sales race included Hero Motocorp and Honda Motorcycle and Scooter in the two-wheeler category, with Maruti Suzuki, Tata Motors, and Hyundai Motor leading the passenger vehicle sales charts.
While the overall sales exhibited an 18% year-on-year growth, individual segments such as two-wheelers, three-wheelers, and passenger vehicles showcased a robust growth of 21%, 23%, and 17%, respectively. Conversely, the commercial vehicle and tractor segments faced challenges, experiencing a 2% and 21% decline, respectively.
Looking ahead, Singhania anticipated a potential surge in two-wheeler sales due to the ongoing wedding season. Nonetheless, challenges stemming from adverse weather conditions impacting cultivation and sluggish commercial vehicle sales due to market sentiments remain pertinent concerns for the industry.
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