Feb sees 48.23 pc drop in vehicle sales
Source: Chronicle News Service
Imphal, March 07 2024:
The state, which has been in the grip of humanitarian crisis since May 3, continues to witness cascading effect on all commercial sectors, notably the automobile retail industry.
According to data released by the Federation of Automobile Dealers' Association (FADA), February 2024 recorded a sharp decline in sales across all categories of motor vehicles.
Overall, the state recorded 48.23 per cent year-on-year (YoY) decrease in vehicle sales, with only 2,126 units sold in February 2024, compared to 4,107 vehicles in February 2023, whereas the national trend had 13.07 per cent increase in sales during the same period.
Sale of two-wheeler vehicles plunged by 42.37 per cent, with only 1,723 vehicles sold in February 2024 compared to 2,990 vehicles in February 2023 .
Moreover, 63.80 per cent YoY decline was observed in three-wheeler vehicles, as only 59 units were sold in February 2024 compared to 163 units in February 2023.Sale of commercial vehicles also dropped by 83.43 per cent, with only 30 units sold in February 2024 compared to 181 units in February 2023 while passenger vehicles sales declined by 59.79 per cent, with only 310 units sold in February 2024 compared to 771 units in February 2023.However, four units of tractors were sold in February this year, against two in February 2023.In contrast, nationwide YoY changes from February 2023 to February 2024 include increase of 13.25 per cent in two-wheeler sales, 23.88 per cent in three-wheeler, 4.78 per cent in commercial vehicle-, 12.36 per cent in passenger vehicle, and 11 per cent increase in tractor, resulting in an overall 13.07 per cent increase across India.
Commenting on performance of February 2024, FADA Manipur chairperson Andy Mangsatabam noted that the automobile industry performahce in Manipur is still suffering with negative growth compared to the overall performance in the country.
The tractor sales in Manipur increased from two to four units in the 10th month of the unprecedented crisis when compared to the same month in 2023.It was the only positive growth to cheer about in the past 10 months, the chairperson said and expressed hope that the situation returns to normal sooner than later.