April vehicle sale sees 51.40 pc drop
Source: Chronicle News Service
Imphal, May 08 2024:
The state, which has been facing humanitarian crisis since May 3 last year, continues to witness descending effect on the automobile retail industry.
According to data released by Federation of Automobile Dealers' Association (FADA), April 2024 recorded a sharp decline in sales across all categories of motor vehicles.
Overall, the state recorded 51.40 per cent year-on-year (YoY) decrease in vehicle sales, with only 2264 units sold in April 2024, compared to 4658 vehicles in April 2023, whereas the national trend saw 26.74 per cent increase in sales during the same period.
Sale of two-wheeler vehicles plunged by 48.45 per cent, with only 1765 vehicles sold in April 2024 against 3,424 in February 2023.Moreover, 91.38 per cent YoY decline was observed in three-wheeler vehicles with only 10 units sold in April 2024 compared to 116 in April 2023 .
Sale of commercial vehicles also declined by 76.74 per cent, with only 40 units sold in April 2024 compared to 172 units in April 2023 while passenger vehicles sales declinedby 52.59 per cent, with only 448 units sold in April 2024 compared to 945 units in April 2023 .
However, a tractor was sold in April this year, similar to April 2023 .
In contrast, nationwide YoY changes from 2023 to April 2024 include increase of 33.21 per cent in two-wheeler sales, 9.27 per cent in three-wheeler, 2.31 per cent in commercial vehicle, 15.94 per cent in passenger vehicle, and 1.37 per cent increase in tractor, resulting in an overall 26.74 per cent increase across India.
Commenting on performance of April, FADA Manipur chairperson Andy Mangsatabam said that the share of the automobile industry in the monthly GST collection of the state is around 28 per cent.
This has come down, and so is the GST collection of the state.
Hopefully, it will improve with improvement in the state's prevalent atmosphere, he added.