Technology
By Vansh Sangwan - March 6, 2023
42 minutes ago
Due to strong sales of passenger vehicles and two-wheelers, the total retail sales of vehicles in February 2023 has seen a jump of 16% over the previous year. At the same time, there has been an 11% increase in vehicle sales as compared to February 2020 before Kovid.
The Federation of Automobile Dealers Association (FADA), an organization of vehicle dealers, gave this information in a report released on Monday. According to the report, 17,75,424 vehicles were sold in the country in different categories, while 15,31,196 vehicles were sold in the same month last year.
Maruti and Hyundai on top
According to FADA, Maruti Suzuki India and Hyundai Motor India were at the top in terms of car sales in February 2023. Maruti sold 1.18 lakh vehicles in this month and its market share was 41.40%. The company had sold 1.09 vehicles in the month of February in 2022. On the other hand, Hyundai Motors has sold 39,106 units in February 2023, compared to 38,688 cars sold in February last year. Hyundai’s market share stood at 13.62%, up from 14.95% at the same time last year.
Hero Motorcorp continues to be on top in two-wheelers
Sales of two-wheelers have increased by 15% over the previous year. 12,67,233 units were sold in the country in February 2023, while 11,04,309 units were sold in February 2022. Among two-wheeler companies, it continues to top the list with sales of 3,90,673 units.
While retail sales of commercial vehicles increased by 17% to 79,027 units as against 67,391 units in the same month last year. However, it remained 10 per cent lower than the pre-Covid month of February 2020. Retail sales of three wheelers witnessed a massive growth of 81% at 72,994 units as compared to 40,224 units in February 2022. Similarly, in February, tractor sales increased by 14% year-on-year to 68,988 units.
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