Total registrations across segments rose 16 per cent year-on-year to 17,75,424 units last month, as compared to 15,31,196 vehicles in February 2022.
The 2-Wheeler category witnessed a growth of 15% YoY but was down by -14% when compared to pre-covid month of February’20.
The 3-Wheeler segment has seen 81% growth YoY and has also grown by 3% when compared to pre-covid month of February’20. This category has seen a drastic growth due to Central & State Government’s subsidy along with good scheme promotion done by the states. Along with this, aggressive finance schemes continues to aid growth for this category.
Total commercial vehicle retail sales in February grew 17 per cent to 79,027 units, as compared to 67,391 units in the same month last year. It, however, remained 10 per cent down when compared to pre-Covid month of February 2020.
Tractor sales rose 14 per cent year-on-year to 68,988 units in February.
As per the US government weather agency, National Oceanic and Atmospheric Administration, El Niño could return as early as June, when the southwest monsoon sets over the Kerala coast. This may act as a threat to normal monsoon and thus impact automobile sales in India.
