Auto retail sales in India saw a 10 per cent year-on-year (YoY) growth in May, according to the latest data from the Federation of Automobile Dealers Associations (FADA). Electric Vehicles (EVs) have made impressive strides this month, contributing to 8 per cent of the total vehicle retail, the FADA report stated. This was buoyed by a surge in two-wheeler EV sales that contributed 7 per cent and three-wheeler EV sales contributing a substantial 56 per cent of their respective total sales.
Furthermore, the commercial vehicles (CV) and passenger vehicles (PV) categories also marked their presence in the EV landscape, with respective contributions of 0.5 per cent and 2.5 per cent, according to the data by auto retail body.
Sales of EVs made impressive strides this month, contributing to 8 per cent of the total vehicle retail. The FADA said that this was buoyed by a surge in two-wheeler EV sales that contributed 7 per cent and three-wheeler EV sales contributing a substantial 56 per cent of their respective total sales. The CV and PV categories also marked their presence in the EV landscape, with respective contributions of 0.5 per cent and 2.5 per cent, according to the FADA report.
Two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles grew by 9 per cent, 79 per cent, 4 per cent, and 7 per cent, respectively.
Commenting on the sales performance FADA President Manish Raj Singhania, said, “May has been an encouraging month for the auto retail industry, demonstrating a robust 10 per cent YoY growth across all vehicle categories. While there has been a slight -2 per cent decline compared to pre-Covid levels, the overall retail figures have shown improvement. The 2W and CV sales did continue to face some challenges, recording high single digit setback of -8 per cent and -7 per cent respectively.”
On two-wheeler sales, Singhania added, “The two-wheeler sales were positively influenced by seasonal factors like the marriage season, changes in the FAME subsidies effective from June, and the recovery of rural demand, which hint towards a promising future in the aftermath of the pandemic.”
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