Retail automobile sales in India drives strong performance in January 2024: FADA Report

The Federation of Automobile Dealers Associations (FADA) released the January 2024 Auto sales report on 13th January 2024 and helped us to learn the sector-wise performance of the Indian auto industry. FADA Report provides everything from 2-wheeler sales to tractor sales in January 2024, this report shares interesting numbers with us.

The Retail Sales Data of the Indian Auto Sector: Forward-looking Numbers  

The entire auto January 2024 sales of India, including 2-wheelers, 3-wheelers, PVs, tractors, and CV, was 21,27,653 units against the 18,49,691 unit sales in January 2023. This way, this industry experienced a massive YoY growth of 15.03%. Let’s review sector-wise auto sales for a better understanding of the growth trajectory of the Indian auto sector.

All India Vehicle Retail Data for Jan'24
CATEGORY	Jan'24	Jan'23	YoY%
2W	14,58,849	12,68,990	14.96%
3W	97,675	71,325	36.94%
E-RICKSHAW(P)	40,526	29,955	35.29%
E-RICKSHAW WITH CART (G)	3,739	1,990	87.89%
THREE-WHEELER (GOODS)	10,163	7,870	29.14%
THREE-WHEELER (PASSENGER)	43,188	31,455	37.30%
THREE-WHEELER (PERSONAL)	59	55	7.27%
PV	3,93,250	3,47,086	13.30%
TRAC	88,671	73,184	21.16%
CV	89,208	89,106	0.11%
LCV	49,835	52,892	-5.78%
MCV	5,454	4,874	11.90%
HCV	29,179	28,479	2.46%
Others	4,740	2,861	65.68%
Total	21,27,653	18,49,691	15.03%

Two Wheeler Retail Sales Data for January 2024

The two-wheeler category recorded YoY growth of 14.96% with 14,58,849 unit sales in January 2024 against the 12,68,990 unit sales during January 2023. 

This sectoral growth is marked because of factors like better vehicle availability and new model launches. The impactful follow-ups and offers have set a positive tone for this sector. 

Three Wheeler Retail Sales Data for January 2024  

The three-wheeler category experienced the highest YoY growth during January 2024. With a total retail sale of 97,675 units in January 2024 against 71,325 units in January 2023, this sector recorded 36.94% YoY growth. 

This sale includes the sales of e-rickshaws, three-wheeler(goods), three-wheeler (passenger), and three-wheeler( personal). Each of these categories experienced YoY growth. This sector has also witnessed a great market shift trend as 55% of this market is now electrified. The use of elective vehicles in the three-wheeler category is on the rise. 

Passenger Vehicle Retail Sales Data for January 2024 

The Passenger Vehicle category of the Indian Auto sector marked the sale of 3,93,250 units in January 2024. January 2024 remained a record-breaking month for this category as this is an all-time high sale. 
As the retail sales of this sector were 3,47,086 units in January 2023, the YoY growth is 13.30%. Factors, like boosted SUV demand, impactful marketing, and consumer favoring schemes, played a crucial role in boosting the sales of this segment. 

Tractor Retail Sales Data for January 2024 

Speaking of Retail Tractor Sales in January 2024, this sector marked 21.16% YoY growth with the retail tractor sales of 88,671 units against the 73,184 units in January 2023. A bountiful Rabi harvest was a major growth driving factor for this segment. 

Commercial Vehicle Retail Sales Data for January 2024

The Commercial Vehicle segment recorded total retail sales of 89,208 units during January 2024 against 89,106 units in January 2023. This sector experienced a YoY growth of 0.11%. This sales data includes the sales of LCVs, HCVs, MCVs, and other vehicles.

Even though its growth is least, as compared to other segments, it will experience growth because of the elections. Post-election, the tender process will speed up which will accelerate the growth of this sector.

Disclaimer:  

1. The above numbers do not have figures from TS & LD.

2. Vehicle Retail Data has been collated as of 06.02.24 in collaboration with the Ministry of Road Transport & Highways, Government of India and has been gathered from 1,353 out of 1,446 RTOs.

3. Commercial Vehicle is subdivided in the following manner

a. LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)

b. MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)

c. HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)

d. Others – Construction Equipment Vehicles and others

4. 3-Wheeler is subdivided in the following manner

a. E-Rickshaw – Passenger

b. E-Rickshaw – Goods

c. 3-Wheeler – Goods

d. 3-Wheeler – Passenger

e. 3-Wheeler – Personal

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