Automobile Sales: The latest data released by the Federation of Automobile Dealers Association (FADA) suggests that there is a significant decline in automobile sales in the country.
Automobile Sales: Key Figures Released By FADA
- Overall automobile sales witnessed a significant decline of 9.26% year-on-year (YoY) in September 2024.
- Two-wheeler sales during this period declined 8.51% YoY.
- Passenger Vehicle (PV) sales decline 18.81% YoY.
- Commercial Vehicle sales fall 10.45% YoY.
Given below is the chart that compares the vehicle sales in different segments in September 2024 and September 2023. The chart also showcase the YoY and the MoM change in the sales figure.
Stock Market Reaction
Meanwhile, Nifty Auto falls 218.85 points or 0.87% to settle down at 24,795.75 points on Monday. According to several media reports, Indian auto stocks are adversely impacted in the recent sell-off triggered by escalating tensions between Iran and Israel. The fall in Auto Stocks is also on the backdrop of the notable decline sales figures of automobiles in September 2024.
The Nifty Auto index extended its losing streak for the fifth consecutive trading session on Monday. The index has reportedly fallen by 7.7% in five trading sessions.
September For Major Carmakers
Carmakers such as Maruti Suzuki, Tata Motors, Hyundai, Mahindra, and others had recently shared their sales numbers for the month of September 2024.
Maruti Suzuki and Tata Motors have registered the sales decline in passenger vehicles in September 2024 compared to the same month of the last year. However, Mahindra rejoice the win in sales figure and the company registered a YoY growth in sales number in September in 2024.
- Maruti Suzuki in September 2024 registered a total domestic passenger vehicle sale of 1,44,962 units.
- Tata Motors in September 2024 sold 41,313 units of domestic passenger vehicles.
- Mahindra in September 2024 sold a total of 51,062 units of passenger vehicles in India.
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