October auto retail sales fall 23%, FADA says
In short
October auto retail sales fell 23%, FADA said. The decline was blamed on a high base from last year.
OEMs still saw strong footfalls at showrooms during the festival period, which suggests buyers were visiting stores even though sales were lower.
What the reporting says
October auto retail sales fell 23% on a yearly basis, according to FADA, with the drop attributed to a high base last year. BusinessLine’s summary also said OEMs saw high footfalls at showrooms during the festival period. The update suggests weaker reported retail sales even as showroom traffic stayed firm around the festive season.
Why it matters
FADA reported that October auto retail sales declined 23% year on year, citing a high base from last year. A separate summary said OEMs saw high footfalls at showrooms during the festival period. The data points to softer retail sales for the auto market despite active showroom traffic, which is relevant for automakers and dealers.