India's automobile retail sales declined 23.8 per cent year-on-year to over 31.72 lakh units in October this year on a high base, with a decline in two-wheeler and passenger vehicle registrations, according to data from the Federation of Automobile Dealers Associations (FADA). The drop reflects Dhanteras and Diwali falling in November this year, while both Navratri and Diwali were in October last year, with strong pent-up demand post the GST cut. Two-wheeler retail sales fell 28.35 per cent to 23.21 lakh units, while passenger vehicle sales dropped 4.23 per cent to 5.08 lakh units during the month. "October is India's largest retail month of the year, and this year it must be read with the calendar firmly in mind," said FADA President Sai Giridhar, adding that the year-on-year decline is almost entirely optical. "Last October was an exceptional month that carried both Navratri and Deepawali together, over and above the pent-up demand released after the GST 2.0 rate cuts of 22nd ...
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