Vehicle Sales Reaches a Record High Milestone Sales in November

Two-wheeler vehicle sales hit a record high of 22.47 lakh units sold in November. Recording a 49% MoM growth from 15.07 lakh units in October and 21% YoY growth from 18.47 lakh units in the same period last year. There is also an increase of 1.77 lakh vehicles compared to the previous high of March 2020.

Manish Raj Singhania, president of FADA, states that the 2W category witnessed a significant boost in auto retail buoyed by the festive excitement and enhanced by solid rural sentiments, thanks to thriving agricultural income. He adds that new product launches and better model supply fuelled the market's growth. Moreover, electric vehicle sales demonstrated an encouraging upward trajectory.

Two-wheeler sales will likely benefit from a liquidity boost, particularly in agricultural regions and the ongoing marriage season, with around 38 lakh marriages expected to drive vehicle sales.