Vijay C Roy
Chandigarh, May 8
On the back of robust demand, auto sales saw a growth of 27 per cent on-year in April, as per the Federation of Automobile Dealers Association (FADA).
FADA’s latest data show two-wheeler sales picked up 33 per cent year-on-year (YoY), while three-wheeler sales increased 9 per cent YoY. Tractor sales also grew 1 per cent year-on-year and commercial vehicles experienced a modest growth of 2 per cent. The passenger vehicle segment achieved a 16 per cent YoYgrowth.
The two-wheeler segment saw a notable growth due to improved supply and the increasing demand for 125cc models. The PV category experienced double-digit YoY growth, supported by enhanced model availability and favourable sentiments, particularly around festivals like Navratri and Gudi Padwa.
In the PV segment, new launches and favourable monsoon forecast are set to stimulate customer interest, while bulk deals in the CV segment should bolster demand in sectors like iron ore, steel, and cement. New electric models’ appeal and a sustained demand for conventional vehicles are likely to provide further momentum.
However, despite, these positive trends, challenges remain. According to FADA, election uncertainty continues to affect market sentiment, delaying customer conversions and stalling purchasing decisions.