Auto sales grew 6.6%, PV sales grew 15.53% year-on-year in January: FADA

The sale of cars increased by 6.6% year, in January, according to the data federation of the automobile dealers’ associations (FADA). The data is in line with previous FADA forecasts, moderately positive in January, said.

A strong start was obvious to all vehicles, including two-eyed, three-wheeled, passenger vehicles, tractors and commercial vehicles. Two-wheel sales increased by 4.15% and 27.39% per month, and city markets, until 41.7% of January. The new model opens, the demand for the marriage season and the improved options for financing were the main growth drivers, Fada said. However, the growth of interest rural liquidity challenges is maintained.

The sale of passenger cars also showed a significant increase, increasing by 15.53% per year and 58.77%, partly due to December purchases registered in January. The urban areas saw a market share, but the rural areas were an increase in the year-end year. Dealers attributed to improved demand and last year’s discount strategies that helped move the registrations.

The sale of commercial vehicles increased by 8.22% a year and increased by 38.04% per month by 38.04%, and city markets exceed rural growth. This performance has contributed to the high level of cargo transportation and demand for passenger transportation, although the flow of money and highly funding policy is challenging, especially in the slowdown areas like cement and coal.

The inventory level has improved, down 50 to 55 days, indicating a better balance of supply demand.

February is approaching, the field maintains careful optimism. According to a recent survey, 46% of dealers expect an increase, and 43% expect sales to remain smooth, and 11% predict decline.

Customer footballs will maintain positive factors such as the marriage season, new products, and strategic promotions are expected. However, the challenges remain, including shorter work days, weak rural liquidity, inflationary pressures and strict criteria for lending.

The President of Fada, Tat Vigshwar, said: Almost half of the surveyed dealers still expect to top the collective feeling of optimism, suggesting that the industry is ready to hold approaching challenges and move forward.