India's Retail Car Sales Were Up 12.5% MoM in October Despite Falling 8% YoY.
In October, which is a festive month, retail vehicle sales in India fell by approximately 8% year over year, according to data released on Monday by the Federation of Automobile Dealers Associations (FADA). Vehicle sales experienced an 8% YoY decline in the first half of October 2023, which coincided with the Shraddh period, when people generally avoid making large purchases. This decline is likely what suppressed the overall monthly figures. However, data indicated that automobile sales increased 12.5% month over month. This table shows the retail sales numbers for October across a number of vehicle categories. But with celebrations still going strong, every car category saw growth each month. According to FADA data, the growth rates for two-wheelers (2W), three-wheelers (3W), passenger vehicles (PV), tractors (Trac), and commercial vehicles (CV) were 15%, 2%, 7%, 15%, and 10%, respectively, on a month-over-month basis. All categories saw gains during Navratri days, with the exception