MUMBAI, Oct. 16 -- For the first time this fiscal, retail sales of passenger vehicles (PV) have seen a yearon- year growth, with September volumes growing 10% to 195,665 units, according to data from the Federation of Automobile Dealers Associations (Fada).
The jump was due to multiple factors, including the opening up of the urban markets from covid-19 restrictions, improved accessibility to vehicle financing by the banks, new car launches and availability of model variants across dealerships, besides a widespread preference for personal transportation.
To be sure, the growth comes over a low base of 178,189 units during the year-ago period.
The growth in retail PV sales follows the almost 30% y-o-y growth in wholesales of passenger veh...