PV sales hit a new high after double-digit surge in March

Vehicle registrations recorded double-digit growth in most categories in March, with a 14% increase in overall retail sales of vehicles, according to the Federation of Automobile Dealers Associations. Sales of passenger vehicles hit a record 3.6 million units in FY23, a YoY rise of 23%. New launches and better product availability helped sustain higher-end variants, said FADA president Manish Raj Singhania, while entry-level variants were still affected by high inflation. Meanwhile, two-wheeler sales were up 12%, but remained 9% lower than pre-pandemic levels.