PV wholesale dispatches move up after retail slowdown in November
Passenger vehicle wholesales rose 4% year-on-year in November while retail sales fell 14%, reflecting rising dealer stocks. While carmakers say inventory in the sales channel is healthy at about a month, dealers claim it is much higher at 65-68 days. Carmakers report wholesales or factory dispatches to dealerships every month, collated and reported by the Society of Indian Automobile Manufacturers (SIAM).
The Federation of Automobile Dealers Associations (FADA) separately issues monthly vehicle registration data compiled from the Vahan portal of the ministry of road, transport & highways (MoRTH), which shows final sales to customers.
As many as 347,552 cars, sedans and utility vehicles were sold in the local market last month, a 4.1% increase from 333,833 units sold in the same period last year, showed data issued by Siam. Retail sales of passenger vehicles had, however, fallen by 14% on-year in November.
Passenger vehicle registrations had grown by a robust 33% during the festive month of October.
Rajesh Menon, director general, SIAM said, “The demand momentum which was seen in October during the festive period has continued in November for the industry as a whole, although two-wheeler and three-wheeler segments witnessed minor de-growth in November 2024.”
Finance
A2Z Of Finance: Finance Beginner Course
By — elearnmarkets, Financial Education by StockEdge
Artificial Intelligence(AI)
Learn InVideo AI: Create Videos from Text Easily
By — Prince Patni, Software Developer (BI, Data Science)
Artificial
