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Tag: auto sales

Indian auto sales surge 20% in September, despite slump in tractors
9Oct By adminNo Comments
Business

Indian auto sales surge 20% in September, despite slump in tractors

In a notable upswing, Indian automobile retail sales for September registered a 20 per cent increase compared to the same period last year, reaching 1.89 million units. The sales surged due to a positive market sentiment driven by favourable monsoon, data released by the Federation of Automobile Dealers' Associations (FADA) shows. Except for tractors, which witnessed a 10 per cent decline in sales, all other automotive categories experienced significant growth. Two-wheelers posted a robust 22 per cent increase, three-wheelers soared by 49 per cent, passenger vehicles saw a steady 19 per cent rise, and commercial vehicles also reported a 5 per cent growth. Three-wheeler sales reached an all-time high in September, with 102,426 units sold, a jump from the 68,937 units sold in ...
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Passenger vehicle sales race to new high, GST mop-up above Rs 1.6 trillion
1Oct By adminNo Comments
Business

Passenger vehicle sales race to new high, GST mop-up above Rs 1.6 trillion

Ahead of the peak festival season, the figures for domestic passenger vehicle (PV) sales and goods and services tax (GST) collection suggested a healthy macroeconomic scenario prevailing  in the country.  While the monthly PV wholesales number at 363,733 units in September was a record high, the GST mop-up at Rs 1.62 trillion, up 10.2 per cent year-on-year (Y-o-Y), was the third highest. The average monthly gross GST collection at Rs 1.65 trillion in the first six months of 2023-24 was 11 per cent higher than in H1FY23. UPI transactions, too, breached the 10 billion mark for a second consecutive month, but the 10.56 billion count was slightly lower than in August; the value of such transactions at Rs 15.8 trillion, however, was marginally higher. ...
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