FADA hopes trend will continue till Deepavali and bring decadal high growth for the festive season.
MUMBAI, Oct 10 (The CONNECT) – The Navratri festival has been very good for the auto industry as retail sales have registered a whopping 57% jump as compared to the last year’s season, the Federation of Automobile Dealers Associations (FADA) today said.
FADA President Manish Raj Singhania said all categories also showed extremely high growth with 2wheeler, 3wheeler, commercial vehicle, passenger vehicle and tractors increasing by 52%, 115%, 48%, 70% and 58% respectively.
When compared to prior-COVID Navratri’19, total retails increased by 16%. Here too, all categories showed positive momentum with 2W, 3W, CV, PV and Tractors growing by 4%, 31%, 37%, 59% and 90% respectively.
Navratri retails clearly shows that customers were back in showrooms with all guns blazing after a gap of 3 years. In fact, 2W category which was continuously showing weakness when compared to pre-covid months, also registered single digit growth.
“We now hope that this trend continues till Deepawali, so that apart from PV Dealers who will see a decade high during this festive, the 2W Dealers also have a good season and hence helps them liquidate their stock which they have built in anticipation of a good festive,” Singhania said.