September 30, 2023

The Federation for automobile dealers’ Associations (FADA) today announced that November 2022 recorded the most lucrative retail sales in the history of the Indian automotive industry. “November 2022 has clocked highest retails in the history of the Indian automobile industry with March 2020 as an exception when retails were higher due to BS-4 to BS-6 transition,” stated Manish Raj Singhania. FADA president.
Retailers of automobiles on November 22 recorded an overall increase of 26 percent, primarily due to festive sales during the wedding season. “All categories were in green, with two-wheeler, three-wheeler, passenger vehicles, tractor, and commercial vehicles growing by 24 percent, 80 percent, 21 percent, 57 percent, and 33 percent, respectively. Even when compared to the pre-covid month of 2019, overall retail for the second consecutive month closed in green by growing 1.5 percent. Except for two-wheelers, which saw a marginal dip of -0.9 percent, all the other categories like three-wheeler, passenger vehicles, tractor, and commercial vehicles grew by 4 percent, 5 percent, 61 percent and 6 percent respectively.”
The two-wheeler segment recorded an incredible increase of 24 percent over the previous year, but it fell by 0.9 percent when the data was compared to November 19. The three-wheeler segment showed an incredible growth of 80 % YoY and 4% compared to 2019.
The PV segment recorded an increase of 21% YoY and 5% compared to 2019. The CV saw a rise of 33 percent YoY and 6 percent compared to the previous year.
The RBI’s most recent consumer confidence figures suggest that consumer confidence rises due to better views of the general economic outlook, household income, and employment. This, along with the celebrations, has continued to bring people to the showrooms they are in.
“Most of the OEMs are announcing price hikes going forward. To counter this and for the lower end of the pyramid, OEMs have started announcing discounts for slow moving products, lower variants and to clear their year-end stocks. This may help year-end sales to remain healthy.”

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