Jharkhand retail vehicle sales fall by 13.95%
MANOJ SINHA Advertisement Ramgarh, Oct 8: The chairperson of the Federation of Automobile Dealers Association, Jharkhand Chapter, Govind P. Mewar, reported…
MANOJ SINHA
Ramgarh, Oct 8: The chairperson of the Federation of Automobile Dealers Association, Jharkhand Chapter, Govind P. Mewar, reported a notable decline in retail vehicle sales in Jharkhand, with a decrease of 13.95% in September 2024 compared to the same month last year. A total of 35,074 units were sold in September 2024, down from 40,761 units in September 2023.
Sales of two-wheelers saw a significant drop of 16.12%, falling to 26,220 units from 31,260 units in September 2023. Conversely, three-wheelers experienced a slight increase of 1.57%, with 2,271 units sold this September, compared to 2,236 units the previous year.
The commercial vehicle segment also faced challenges, registering a decline of 4.44% with 1,486 units sold in September 2024, down from 1,555 units in September 2023. Passenger vehicles suffered a substantial decline of 17.24%, with only 3,994 units sold this September compared to 4,820 units in September 2023.
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However, the tractor segment thrived, recording a growth of 23.93% with 1,103 units sold, up from 890 units last year.
Due to heavy rainfall in Jharkhand during September 2024 and the observance of Pitru Paksha, there was a significant drop in the sales of two-wheelers and passenger vehicles, along with a decline in commercial vehicle sales.
However, the good rainfall positively impacted the agricultural sector, leading to a notable increase in tractor sales. The commercial vehicle segment’s downturn led to increased stock levels of vehicles and financial losses for dealers.
Despite these challenges, expectations are high for a rebound in vehicle sales during October 2024, bolstered by the upcoming festivals of Durga Puja and Dhanteras.
