Decline in sales of vehicles, sales in July fell by 8 percent compared to last year

Retail sales of two-wheelers declined by 11 per cent to 10,09,574 units last month as against 11,33,344 units in the year-ago period

Decline in vehicle sales

In July due to decrease in registration of passenger vehicles, two wheelers and tractors retail sales of vehicles 8 percent on a yearly basis. Auto dealers’ body FADA gave this information on Thursday. According to the data of Federation of Automobile Dealers Association (FADA), the total retail sales of vehicles last month stood at 14,36,927 units as against 15,59,106 units in July 2021. Retail sales of passenger vehicles (PV) fell by 5 per cent year-on-year to 2,50,972 units in July 2022 as compared to 2,63,238 units in July 2021. Sales figures in July, FADA President Vinkesh Gulati said in a statement There may be a decrease, but new models of vehicles are being launched in the market, especially in the compact SUV segment, which is helping in the growth.

Two-wheeler sales down 11 percent

According to FADA data, retail sales of two-wheelers declined by 11 per cent to 10,09,574 units last month as compared to 11,33,344 units in the year-ago period. 59,573 tractors were sold in July 2022, which is 28 percent less than 82,419 units in July 2021. However, retail sales of three wheelers and commercial vehicles have grown year-on-year last month. Last month, 50,349 three-wheelers were sold, which is 80 per cent more than last year. Similarly, sales of commercial vehicles stood at 66,459 units with a growth of 27 per cent.

hope for festive season

The market hopes that this time the festive season can be better. There is an improvement in the condition of the chip. At the same time, the effect of inflation is also expected to decrease in the coming time, due to which the sentiments among the customers can improve. All major institutions have expressed hope that inflation will come down from October onwards, while oil prices are also expected to come down.

Source link

Leave your vote

Related Articles

Back to top button

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.