More than 11000 cars are being sold every 24 hours in India, know why the showroom is getting crowded

auto news desk, Even before the Corona crisis, the Indian automobile industry was almost out of breath. While the sales were continuously declining, the industry suffered huge losses due to the crisis arising out of chip supply during the Corona period. But now things have started improving. The country’s car showrooms are selling 450 cars every hour, while car companies are selling over 11,000 cars daily. Retail sales of passenger vehicles (PV) in the country grew by 14 per cent year-on-year to 3,35,266 units in March. Which was due to the improvement in the supply of electronic components. The Federation of Vehicle Dealer Association (FADA) gave this information on Tuesday. Passenger vehicle registrations in the domestic market stood at 3,35,266 units last month. In March 2022, this number was 2,93,016 units.

Sales of two wheelers also increased
Retail sales of two-wheelers also grew by 12 per cent to 14,45,867 units last month, FADA said in a statement. A year ago, 12,86,109 two-wheelers were sold in the same month. Similarly, sales of commercial vehicles also increased to 92,790 units last month. This figure is 10 percent more than 84,124 units in March last year. Retail sales of three-wheelers grew by 69 per cent year-on-year to 86,857 units during the period under review. At the same time, there was an increase of four percent in the sale of tractors last month. It increased from 78,070 units to 81,607 units. Total vehicle registrations increased to 20,41,847 units last month. This was 14 per cent higher than the figure of 17,92,802 units registered in March 2022.

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23% jump in vehicle registration
According to statistics, in the last financial year 2022-23, the registration of passenger vehicles increased by 23 percent to 36,20,039 units. It was 29,42,273 units in the last financial year i.e. 2021-22. Retail sales of two-wheelers increased by 19 percent to 1,59,95,968 units in FY 2022-23 from 1,34,94,214 units. Similarly, retail sales of commercial vehicles grew by 33 per cent in the ended fiscal.

Tractor sales show signs of recovery
Year-on-year retail sales of three-wheelers grew by 84 per cent and tractors by eight per cent. At the same time, total vehicle sales increased by 21 percent to 2,21,50,222 units. A total of 1,83,27,326 vehicles were sold in the financial year 2021-22.

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