The Federation of Automobile Dealers Association (FADA) noted that after two months of positive sales during the Festive Period in October and its spillover effect in November, Auto Sales fell once again in December. Despite robust inquiries and with offers and discounts at its peak, customers did not conclude on their purchase as expected, showing continued weakness in consumer sentiment. On a YoY basis, overall vehicle registrations fell by 15% in December. FADA noted that 2-Wheeler registrations were down by 16%, PV registrations were down by 9% and CV registrations registered de-growth of 21%. Only 3-Wheeler registrations were up marginally. With the December de-growth being the highest in this FY, FADA shared its concern on falling auto sales and shifted its stance to very cautious for the near and mid-term ahead of the BSVI transition. However, the association is looking forward to demand spurring initiatives in the Union Budget and specific Initiatives for the auto industry.
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