look news india
Mumbai: Sales data shows that the financial year 2023-24 has been encouraging for the country's auto sector. Retail sales of off-road vehicles in the country in the last financial year stood at 3948143, which is 8.45 percent more than the figure of 3640399 for financial year 2023.
Total auto sales in the country increased by 10.29 percent to total 2,453,0334 units in the last financial year. The total auto sales figures include SUVs, two-wheelers, commercial vehicles, tractors and three-wheelers.
According to data from the Federation of Automobile Dealers Association (FADA), the last financial year has been successful in terms of vehicle sales as the availability of vehicles has increased.
FADA sources said this situation has been observed after the launch of new models. Increase in supply, strategic marketing and improvement in road infrastructure have also increased the attractiveness of buying a vehicle.
Demand for sports utility vehicles was also high.
There has been a decline of 6 percent in the sales of Utaru vehicles in the month ending March. There has also been a decline in March sales due to concerns about the economy and the election environment.
In March this year, 322345 vehicles were sold as compared to 343527 units in March last year.
The last financial year has seen the highest increase in sales of three-wheelers. Sales of three-wheelers have increased by 48.83 percent. FADA President Manishraj Singhania said in a statement that the sales of two-wheelers have increased by 9.30 percent.
Sales of three-wheelers have increased due to electric vehicle models. Apart from this, due to positive sentiment, an increase in the sales of two-wheelers has been seen.