Vehicle sales surge upwards for the month of June 2022 as per FADA
The Federation of Automobile Dealers Association (FADA) announced retail vehicle sales figures for the month of June and highlighted the Indian automotive market's steady return to some semblance of normalcy, with passenger cars heading the way.
FADA observed that new model introductions last month gave a boost to vehicle retail, despite the fact that excessive waiting times for some models continue to be a problem. Vehicle production returned to about normal levels at the same time as the worldwide semiconductor supply shortfall began to ease. Due to the lengthy wait periods for potential purchasers caused by the chip scarcity, this, in turn, increased the number of cars sold.
According to the newly disclosed statistics, all segments of the Indian automotive market two-wheelers, three-wheelers, passenger cars, tractors and commercial vehicles saw an increase in June compared to the month that Covid-19 struck.
In June of 2021 compared to June of last month, passenger sales increased by 40 percent. However, while the increase in retail sales over the same period last month was to be expected, FADA points out how the introduction of new models is contributing to the increase in the passenger market.
However, FADA worries that persistently high gasoline costs will reduce prospective purchasers' discretionary income, which would reduce demand for entry-level PV and two-wheeler models. According to FADA, the war in Ukraine has raised inflationary pressures by driving up the cost of necessities.
Related Stories
Top Stories
Latest Videos
Most Popular
- Upcoming Mahindra XUV 3XO: All you need to know
- New Suzuki Swift spotted testing
- Nissan Magnite EZ-Shift review - is the AMT any good?
- Budget Sportbike Showdown: Kawasaki Ninja 500 vs Aprilia RS 457 vs Yamaha YZF-R3
- 2024 Hyundai Creta vs Toyota Urban Cruiser Hyryder vs Skoda Kushaq comparison review - the hype is real?