Federation of Automobile Dealers Associations (FADA) has said that passenger vehicle retail sales in India declined by 1 per cent in April 2023 as buyers preponed purchases to March in order to avoid enhanced prices on account of stricter emission norms kicking in from April 1. The passenger vehicle retail sales declined to 2,82,674 units in April 2023 as compared with 2,86,539 units in April 2022. 

FADA noted that three-wheeler retail sales stood at 70,928 units in April 2023, up 57 per cent as compared with 45,114 units in April 2022. Similarly, commercial vehicle registrations were up 2 per cent to 85,587 units in April from 83,987 units in the year-ago period. Tractors’ retail sales also witnessed an increase of 1 per cent to 55,835 units in April 2023 as against April 2022. Retail sales across categories declined by 4 per cent to 17,24,935 units in April 2023 as against 17,97,432 units in April 2022.  

It further said that two-wheeler registrations declined by 7 per cent to 12,29,911 units in April 2023 as against 13,26,773 units in the year-ago period. The drop in sales can be attributed to limited supplies due to the OBD 2A shift, untimely rains and pre-buying in March. Model mix availability, rural sentiment and demand in the two-wheeler motorcycle segment remain weak. The rural economy has yet to show significant progress. Compared to the pre-Covid April 2019, two-wheeler sales are still down by 19 per cent.

Source : Accord Fintech