NEW DELHI: Auto retail gross sales declined over 9% year-on-year in Sept amid a large build-up of passenger car stock because of sluggish demand, supplier’s physique FADA mentioned on Monday.
The general registrations declined to 17.2 lakh models final month from 19 lakh models in Sept 2023, as a lot of the classes, together with passenger autos and two-wheelers, witnessed a year-on-year (YoY) drop.
“Regardless of the onset of festivals comparable to Ganesh Chaturthi and Onam, sellers have reported that the efficiency has been largely stagnant,” Federation of Vehicle Sellers Associations (FADA) president C S Vigneshwar mentioned. Passenger car gross sales declined 19% YoY to 2,75,681 models final month from 3,39,543 models within the year-ago interval.
“Seasonal components comparable to Shraaddh and Pitrapaksha, coupled with heavy rainfall and a sluggish financial system, have exacerbated the state of affairs,” Vigneshwar mentioned.
Two-wheeler retail gross sales noticed a dip of 8% YoY to 12,04,259 models because of low shopper sentiment, poor inquiries, and lowered walk-ins, FADA mentioned.
Industrial car registrations declined 10% YoY final month to 74,324 models. Whereas there was constructive sentiment and marginal progress in areas supported by infrastructure initiatives, total demand remained weak because of low govt spending, prolonged monsoon delays and seasonal challenges, the trade physique mentioned.
Three-wheeler retail gross sales rose marginally to 1.1 lakh models final month. Tractor gross sales rose 15% YoY to 74,324 models final month.
