India auto sales: November sees highest sales in the history of automobile industry in India

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Registering a growth of 26% on an annual basis, auto retails in November 2022 clocked record high numbers, the Federation of Automobile Dealers Associations (FADA) showed on Friday.

Around 23.80 lakh units were sold in November this year, compared to 18.93 lakh units in November 2021 and 23.44 lakh units in November 2019, a pre-Covid year.

All categories of automobiles saw growth in November, data shows. 2-wheelers, 3-wheelers, passenger vehicles (PVs), tractors and commercial vehicles (CVs) each saw a growth of 24%, 80%, 21%, 57% and 33% respectively.

Category November 2022 November 2021 YoY % (2021) November 2019 YoY % (2019)
2W 18.48 lakh 14.95 lakh 23.61% 18.64 lakh -0.86%
3W 74,473 41,296 80.34% 71,833 3.68%
PVs 3.01 lakh 2.48 lakh 21.31% 2.86 lakh 5.12%
Tractors 77,993 49,737 56.81% 48,342 61.34%
CVs 79,369 59,765 32.80% 74,614% 6.37%
Total 23.80 lakh 18.93 lakh 25.71% 23.45 lakh 1.52%

Data source: FADA

“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 baton was passed by the positive run of festive sales to the Great Indian Wedding Season (from November 14 to December 14) where around 32 lakh weddings will be solemnised across the country,” Singhania added.

Compared to the pre-Covid period of November 2019, overall retails across all categories, except 2-wheelers, saw a positive bump for the second straight month.

“The 2W segment showed a huge growth of 24% YoY but fell marginally by 0.9%, when compared to November 2019, a pre-covid year. This segment is slowly turning the tides from negative to positive as the same can be witnessed from retail sales due to the ongoing wedding season,” Singhania said.

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.

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