Excelsior Correspondent
JAMMU, Apr 5: The J&K unit of Federation of Automobile Dealers Association (FADA) today said that in March 2023, the total vehicle retail sale saw a 21% YoY increase in the Union Territory as a total of 15,703 vehicles were registered last month as compared to 12,941 in March 2022.
“Two-wheeler retail sales rose to 7,776 in March, up 36.9 per cent from 5,680 units in the year-ago period while 3-wheeler category witnessed a growth of 66.98 per cent as 900 units of three-wheelers were sold this March as compared to 539 units in March 2022,” FADA said in a statement.
Similarly, the passenger vehicle registrations last month rose to 5,395 units, up 10.33 per cent from 4,890 units in March last year. However, the Commercial vehicle category and Tractor vehicle category witnessed a down fall of -0.83 per cent and -37.06 per cent, respectively.
In March 2023, a total of 1,311 units of commercial vehicles were sold as compared to 1,322 in March last year whereas tractor registrations were just 321 in March this year as compared to 510 in March 2022.
Commenting on how March 2023 performed, FADA Jammu chairperson Sanjay Aggarwal said, “In March 2023, total vehicle retail sale experienced a 21 per cent YoY increase and Financial Year 2023 was the first full year without any impact of COVID-19, with total retail sale witnessing a double-digit growth during the year.” He said they are optimistic about the same trend continues.
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