22.8 C
Delhi
Wednesday, February 21, 2024

The best festive season in a decade, vehicle sales increase 29%

Date:

Share post:

Donate-GC-Razorpay

This year, the 42-day festive season proved to be the best, as far as the sale of vehicles was concerned. As per the Federation of Automobile Dealers (FADA), in October, the sale of two-wheelers augmented by 51.10% and reached 15, 71, 165, last year, in October, a total of 10, 39, 845 two-wheelers were sold. In October 2022, as compared to October 2021, the sale of cars increased by 40.55% and reached 3, 28, 645.

As per statistics released on Monday, a total of 28, 88, 131 vehicles were sold during the festivities, which is 29% more than the sales of 2021 and 5.82% more than the pre-COVID times of 2019. In October, the total sales of vehicles have increased 47.62% annually. As compared to October 2019, last month, the sale of cars went up by 17.85% and that of two-wheelers, 5.79%. According to FADA, immediately after the festivals, the sale of vehicles gets reduced a little.

Apart from this, most of the buyers wait in order to buy new vehicles in the new year. Nevertheless, the high demands of SUVs and premium cars are expected to remain the same, and at the same time, the demand of commercial vehicles will also remain to be high because of the increase in infrastructure projects. Most of the vehicle manufacturing companies are moving on to the OBD-2 rules, as a result of which, costs can augment.

 

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

Related articles

India and Greece heading towards doubling bilateral trade by 2030: PM Modi

New Delhi: Prime Minister Narendra Modi on Wednesday held bilateral talks with his Greek counterpart Kyriakos Mitsotakis in...

Demand for removal of K K Pathak rocks Bihar Assembly

Patna: Bihar Chief Minister Nitish Kumar lost his cool over the demands of the opposition for removal of...

Target of CD ratio should be 65 pc next year: Yogi

Lucknow: Chief Minister Yogi Adityanath on Wednesday expressed his satisfaction with the state's current credit-deposit (CD) ratio of...

21st round of India-China Corps Commander level meeting held at Chushul-Moldo border

New Delhi: The 21st round of India-China Corps Commander level meeting seeking complete disengagement in the remaining areas...