Festive season boosted India’s automobile retail sales by 29.32% in November on a sequential basis, industry data showed on Tuesday.
However, sales remained in the red on a year-on-year basis. The Federation of Automobile Dealers Associations data showed that vehicle registration in November rose to 18,27,990 units from 14,13,549 units sold in October.
Nevertheless, on a YoY basis, November retail sales declined by 19.29% to 18,27,990 units from 22,64,947 units off-take during the like month of last year.
“Automobile Industry has seen one of the best recovery rates since unlocking began as November continues to see positive momentum by growing 29.32% on MoM basis,” FADA President Vinkesh Gulati said.