TL;DR
India's auto market saw a 32% year-on-year sales increase in October, with two-wheelers leading the surge due to festive demand and rural growth.
India's automotive market experienced a robust 32% year-on-year growth across all vehicle categories in October, according to a report by the Federation of Automobile Dealers Associations (FADA). This significant surge is primarily attributed to the convergence of major festive seasons like Navratri and Diwali, which traditionally boost consumer purchasing power and sentiment across the country.
The two-wheeler segment notably led this impressive growth, registering a 36% year-on-year increase in sales. Contributing factors included attractive festive discounts, the introduction of new models, and improved stock availability at dealerships. Rural demand played a crucial role, particularly in driving two-wheeler sales, as enhanced Minimum Support Prices (MSP) for Rabi crops positively impacted farmers' purchasing power. Passenger vehicle sales also performed strongly, recording a 32% year-on-year rise.
