State sees sharp rise in vehicle sales in May
Source: Chronicle News Service

Imphal, June 14 2024: The Federation of Automobile Dealers' Associations (FADA) has released the vehicle retail data for May 2024, which recorded notable growth in Manipur.

The data showcases increase in vehicle sales across all categories in the state, compared to modest growth and some declines in the all-India figures.

The retail data for the state in May 2024 highlights year-on-year (YoY) growth across various categories with sale of two-wheelers surging to 1815 units, up from 572 in May 2023.Similarly, three-wheeler sales increased by 26.92 per cent, 33 units from 26 units the previous year.

Commercial vehicles also saw substantial growth of 71.88 per cent, with sales reaching 55 units compared to 32 in May 2023.The passenger vehicle category experienced the highest growth rate, with sales jumping to 400 units from 119 units, a significant increase of 236.13 per cent.

Two units of tractor were sold in May 2024 compared to none in May last year.

Overall, total vehicle sales in the state for May 2024 reached 2305 units, 207.74 per cent increase, from the 749 units sold in May 2023 .

In contrast, the national vehicle retail data for May 2024 shows a mixed performance across different vehicle categories.

Sales of two-wheelers slightly increased by 2.48 per cent, with 1,534,856 units sold compared to 1,497,778 units in May 2023.The three-wheeler category experienced substantial growth of 20.09 per cent, with sales rising to 98,265 units from 81,825 units the previous year.

Commercial vehicle sales saw a moderate increase of 4.07 per cent, with 83,059 units sold, up from 79,807 units in May 2023 .

However, passenger vehicle sales slightly decreased by 0.96 per cent, with 303,358 units sold compared to 306,305 in May 2023 .

Tractor sales experienced a minor decline of 1.06 per cent, with 70,065 units sold, down from 70,813 units the previous year.

In total, vehicle sales across India for May 2024 amounted to 2,089,603 units, reflecting a modest 2.61 per cent growth from the 2,036,528 units sold in May 2023 .

Commenting on the performance of the automobile industry in the state for May 2024, FADA Manipur State chairperson Andy Mangsatabam stated, "There is an improvement in the performance of the automobile industry in Manipur in the month of May '24 as compared to May 2023.This is something to cheer about as a similar trend is expected in the coming months" .

Comment