India's October auto sales rise 12.5% on month; Navratri sees record-breaking sales
Total auto sales in October stood at 21,17,596, down 7.73% from a year earlier but it rose 12.51% from 18,82,071 sold in September, according to FADA data.
«The month commenced under the shadow of the inauspicious Shraddh period, persisting until the 14th.
Consequently, a YoY comparison may not accurately reflect the actual trajectory of growth in the Indian Auto Retail sector,» FADA President Manish Raj Singhania said in a statement.
Shraddh period, that runs for over a fortnight, is dedicated to honoring ancestors in Hindu traditions.
Two-wheelers, three-wheelers, passenger vehicles, tractors and commercial vehicles expanded by 15%, 2%, 7%, 15%, and 10%, respectively, from the previous month.
The two-wheeler category experienced several encouraging developments during the Navratri season and throughout October. These positive trends were fueled by the festive spirit and increased demand from rural areas.
The market gained strength due to improved availability of models, particularly those in high demand from the previous year, and the introduction of more attractive financial schemes. Furthermore, states going into elections brought optimism to the market, resulting in increased government spending and improved liquidity.
In October 2023, the three-wheeler category achieved a historic milestone, reaching an all-time high in retail sales with 104,711 vehicles sold, surpassing the previous month's record.
The sales was primarily driven by competitive finance options and a significant rise in e-Rickshaw interest, signaling a healthy move towards electrification.
Navratri this year witnessed record-breaking sales in the auto retail industry, surpassing the previous peak seen during Navratri 2017. Year-over-year
