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October retails for auto dealers down 5% YoY; worst festive season in decade, says FADA

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The FADA stated that three-wheeler sales were up 53 percent and commercial vehicles by 10 percent in the festive season.

October retails for auto dealers down 5% YoY; worst festive season in decade, says FADA
The Federation of Automobile Dealers Associations (FADA) on Thursday said it was the worst festive season for auto dealers in a decade. The FADA said the two-wheeler sales were down 18 percent, passenger vehicles by 26 percent, and tractors by 23 percent in the 42-day festive season
As per FADA, October retails were down 5 percent on a year-on-year basis and it was down 27 percent compared to October 2019.
The FADA stated that three-wheeler sales were up 53 percent and commercial vehicles by 10 percent in the festive season.
FADA said the semi-conductor shortage in passenger vehicles and low demand for two-wheelers impacted the sentiment. There has been a backlog of bookings in the passenger vehicles segment, it noted.
"We have witnessed the worst festive season in the last decade. Semi-conductor shortage which was already a full-blown crisis showed its true colours when in spite of above healthy demand, we could not cater to customer’s needs as SUV, Compact-SUV and luxury categories witnessed huge shortage of vehicles. On the other hand, entry-level cars saw subdued demand as customers in this category continued to conserve money due to their families healthcare needs," FADA President Vinkesh Gulati said.
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