FADA releases Feb-24 Vehicle Retail Data

Jammu Tawi: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for Feb’24. In February 2024, Indian Auto Retail saw a robust overall growth of 13% YoY, as noted by FADA President, Mr. Manish Raj Singhania. Every vehicle category, including 2W, 3W, PV, Tractors, and CV, registered growth rates of 13%, 24%, 12%, 11%, and 5% respectively.“ The 2W market’s 13% YoY growth was driven by the rural sector, premium model demand, and strong entry-level segment performance, with broader product availability and compelling offers enhancing product acceptance. Factors like favourable marriage dates and improved economic conditions also contributed to this positive growth. The 3W market surged by 24% YoY, with EVs making up 53% of this growth, fuelled by first-time users and a shift towards Electric E-Rickshaws, alongside better market sentiment and consumer engagement. The PV segment has exhibited an impressive 12% YoY growth, achieving the highest sales figures ever recorded for the month of February.