"Positive market sentiment was supported by seasonal events, improved vehicle supply, and financial incentives. Despite facing market volatility and intense competition, the industry is strategically evolving, particularly in the premium and EV categories, signalling a bright future," said F
According to FADA, passenger vehicles (PV) grew 21.92 per cent to 3,40,220 units in January 2023, against 2,79,050 during the same month in 2022 while commercial vehicle sales went up 16.34 per cent to 82,428 units from 70,853 units in the year-ago month.
In December 2022, 16,22,317 units were sold as against 17,14,942 units sold in December 2021, data released by The Federation of Automobile Dealers Associations (FADA) on Thursday showed.