As we all know, India has emerged as the world’s third largest automobile market, surpassing Japan. This remarkable success did not come overnight. This is possible because the sales of vehicles in the country have increased tremendously. In January 2024 as well, passenger vehicle sales in the country reached a new high. Similar information has been released by the Federation of Automobile Dealers Association or FADA.
Passenger vehicle sales set record in India
Statistics show that 3,93,250 passenger cars bought Indian cars in the first month of the year. Compared to last year at the same time, the sales volume was 3,47,086 units. Again, in December last year, the sales were 2,93,005 units, compared to which the sales in January increased by 34.21 percent.
According to FADA, the number of cars sold in January is the highest in the history of the country so far. It has even surpassed last year’s November sales. This huge volume of sales of passenger vehicles in Google contributed to the 15.03% growth in retail sales during the month.
Skyrocketing demand for SUVs has helped boost sales, said FADA President Manish Raj Singhania. In his words, “A record breaking month, the passenger vehicle segment has seen its highest sales in a month so far at 3,93,250 units.”
On the other hand, demand has returned in the passenger vehicle segment as well as in the two-wheeler market. Last month’s sales eclipsed January’s record last year. 14,58,849 two-wheelers were sold in India in January this year. Whereas a year ago the sales figure was 12,68,990 units.
