Passenger vehicle retail sales up 14% in March: FADA

Passenger vehicle retail sales increased by 14 per cent year-on-year in March riding on the back of an improved supply of electronic components, dealer body Federation of Automobile Dealers Associations reported.

The domestic passenger vehicle registrations rose to 3,35,266 units last month, from 2,93,016 units in March 2022.

Two-wheeler retail sales rose to 14,45,867 in March, up 12% from 12,86,109 units in the year-ago period, the Federation of Automobile Dealers Associations (FADA) said in a statement.

Similarly, the commercial vehicle registrations last month rose to 92,790 units, up 10% from 84,124 units in March last year.

Three-wheeler retail sales rose 69% year-on-year to 86,857 units in March.

Tractor registrations last month rose to 81,607 units, up 4% from 78,070 units in March 2022.

Total registrations last month rose to 20,41,847 units in March, up 14% from 17,92,802 units in the year-ago period.

For the last financial year, passenger vehicle registrations rose by 23% to 36,20,039 units, as against 29,42,273 units in 2021-22.

Two-wheelers retails rose by 19% to 1,59,95,968 units in FY23 as compared to 1,34,94,214 units in 2021-22.

Commercial vehicle retails rose 33%, three-wheelers retail was up 84 per cent and tractor registrations saw an 8% rise year-on-year last fiscal.

Total sales increased by 21% to 2,21,50,222 units last fiscal as compared to 1,83,27,326 units in FY22.