There was a 9.26% decline in vehicle retail sales on an annual basis in the month of September across the country. Automakers sold around 17.23 lakh vehicles last month. At the same time, 19 lakh vehicles were sold in the same month last year.
At the same time, car sales declined by around 19% on an annual basis. Automakers sold 2,75,681 cars in September. Whereas in the same month last year, 3,39,543 vehicles were sold.
The Federation of Automobile Dealers Associations (FADA) gave this information in the monthly sales report today (October 7). According to the FADA report, festivals like Ganesh Chaturthi and Onam in September have also failed to increase the demand for cars.
Increased stock at dealers The dealers’ organization claims that due to drop in demand, 80-85 days’ worth of stock (inventory) of around 7.9 lakh vehicles has accumulated at dealerships, worth Rs 79 000 crore.
According to FADA, “The passenger vehicle segment is facing a serious situation due to high inventory levels at dealerships. If sales do not increase as expected in October, then dealers could face huge losses. »
Two-wheeler sales also declined According to FADA, sales of two-wheelers also declined due to heavy rains and Shraddha Paksha last month. During this period, sales of scooter bikes decreased by 8.51% compared to the same month last year. In September, two-wheeler manufacturers had sold 12,04,259 vehicles. At the same time, 13,16,300 two-wheelers were sold in the same month last year.
Sales of three-wheelers and tractors increased This resulted in a 10.45% annual decline in commercial vehicle sales in September. On the other hand, three-wheelers witnessed an annual growth of 0.66% and tractor segments witnessed an annual growth of 14.69%.