New Delhi: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for March’23 for the State of Maharashtra.
Commenting on how March’23 performed, FADA Maharashtra State Chairperson, Mr Sachin Vasantrao Mahajan said, “The Maharashtra Auto retail industry witnessed a robust growth of close to 15% YoY. All the categories were in the green except Tractors. 2-wheelers grew by 18%, 3-wheelers by a massive 68%, Passenger vehicle & Commercial vehicle grew by 7% & 5% respectively but for Tractors which saw a de-growth of 15%.”
The 2-Wheeler category witnessed a growth of 18% YoY but was down by 26% from its pre-covid levels. The diminished demand in rural markets has been a key factor.
The 3-wheeler segment achieved record-high retail sales by growing 68% YoY. This is mainly because of the extensive use of 3Wheelers in the last mile connectivity, but the sales numbers have not yet achieved the pre-covid numbers.
The Passenger Vehicle segment saw a growth of 7% YoY. Supply chain issues being under control & lot of festivities in the month kept the sales figures on the positive side.
The Commercial Vehicle category has also grown by growing 5% YoY. The continuous ongoing infrastructure development has been the key driver.
Also, the year-end discount bonanza & OBD price hike encouraged the pre-buying.”
The continuous unseasonal rains resulted in low output of Kharif as well as Rabi Crops which in turn directly impacted tractor sales in the State of Maharashtra, which saw a steep decline of 15% in tractor sales.”