The car market comprises a large part of the Indian economy. As a result, the increase in demand for vehicles actually indicates a strengthening of the economy's fundamentals. In the past few months, the sales of all types of vehicles in the country have been seen to increase. Last month was no exception. According to the data published by FADA (Federation of Automobile Dealers Association), 22,06,070 cars were sold in India in April 2024.
That is 4.65 lakh units higher than the same period last year, and the percentage is 27%. As of March 2024, the number of vehicles sold across India was 21,27,177 units. Compared to that, April sales rose by about 4%. The total number of passenger vehicles sold in India in the previous month was 3,35,123. It was 2,89,056 units during the same period last year.
Not only in the car market, but also in the two-wheeler market, great progress has been noticed. A total of 16,43,510 motorcycles and scooters were sold in the Indian market in April this year. The previous year's sales in April were 12,33,763 units. As a result, demand increased by 33.21% last month. Again in March 15,29,875 Indians brought two wheelers home. As a result, sales increased by 8% in April.
Finally, three-wheeler sales have also witnessed a rise in the country. In April 2024, 80,105 units of three wheelers were sold in the country. Last year in April this number was 73,310 units. However, in March 2024, three wheelers were sold at 1,05,222 units. Compared to that, there was a 24% decline in sales in April. 88,663 units of commercial vehicles were sold in India last month.
