India's automobile retail sales hit record August high

India?s automobile retail sales hit a record high for August at 24.23 lakh units, rising 18% year-on-year, according to the Federation of Automobile Dealers Associations (FADA). Growth was led by construction equipment at 31.45%, followed by 2Ws at 19.69%, PVs at 16.14%, CVs at 14.45% and 3Ws at 8.64%. Tractors grew 0.84%.

PVs recorded their best-ever August at 4,02,398 units, crossing 4 lakh for the first time, with rural sales growing 24.99% against 10.93% in urban markets. Alternative fuels accounted for 41.95% of PV sales, led by CNG at 25.28%, hybrids at 9.04% and EVs at 7.63%, surpassing petrol/ethanol at 40.85%. PV inventory rose to around 38-40 days.

2W sales reached 17,14,610 units, up 19.69%, with rural growth at 20.25%. EV penetration rose to 10.68%. CV sales stood at 90,769 units, up 14.45%, while EV share climbed to a record 5.18%. 3W sales rose 8.64% to 1,22,281 units, with EV penetration at 65.30%.

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