52.38 pc YoY drop in vehicle sales: HUM report
Source: Chronicle News Service
Imphal, February 15 2024:
Manipur, facing a severe humanitarian crisis, witnesses a cascading effect on all commercial sectors, notably the automobile retail industry.
According to data-released by Federation of Automobile Dealers' Associations (FADA), January 2024 recorded a stark decline in sales across all categories of motor vehicles compared to the corresponding month the previous year.
Overall, Imphal experienced a staggering -52.38 per cent year-on-year (YoY) dip in vehicle sales, with only 2,097 vehicles sold in January 2024, a significant drop from 4,404 vehicles in January 2023 .
This downturn sharply contrasts with the national trend, which saw a 15.03 per cent increase in vehicle sales during the same period.
Two-wheeler vehicles sales plunged by 50.25 per cent, with only 1,571 vehicles sold in January 2024 compared to 3,158 vehicles in January 2023.A staggering 66.24 per cent YoY decline is observed in three-wheeler vehicles, with only 53 units sold in January 2024 compared to 157 units in January 2023.Sales of commercial vehicles plummeted by 80 per cent, as only 39 units were sold in January 2024 compared to 195 units in January 2023.Passenger vehicles sales also declined by 51.68 per cent, with only 432 units sold in January 2024 compared to 894 units in January 2023 .
Only two units of tractors were sold in January 2024, for which no comparative data is available from January 2023 .
In contrast, nationwide YoY changes from January 2023 to January 2024 are a 14.96 per cent increase in two-wheeler sales, 36.94 per cent increase in three-wheeler sales, marginal 0.11 per cent increase in commercial vehicle sales, a 13.30 per cent increase in passenger vehicle sales, and a 21.16 per cent increase in tractor sales, resulting in an overall 15.03 per cent increase in vehicle sales across India.
Commenting on the performance of January 2024, FADA Manipur State chairperson Andy Mangsatabam noted Imphal's unique situation, stating, "Manipur seems to be the only state in the region to clock negative growth in the automobile industry.
But the silver lining is that there are sales taking place in spite of the prevailing unprecedented difficult situation" .