Early Times Report
Jammu, June 6: The Federation of Automobile Dealers Associations (FADA) has released the Vehicle Retail Data for May’23 for the Union Territory (UT) of Jammu and Kashmir, showcasing a mixed trend in different vehicle categories. Overall, the total retail for May’23 in Jammu and Kashmir reached 16,565 units, indicating a slight increase compared to 16,311 units in May’22.
FADA Jammu UT Chairperson, Sanjay Aggarwal, commented on the performance of May’23, stating that the overall growth of 1.56% compared to the same month last year is an encouraging trend.
He highlighted the increased penetration of electric vehicles (EVs) and the positive momentum in the Passenger Vehicle segment, driven by improved vehicle availability, pending orders, and robust demand for new vehicles.
Mr. Aggarwal also mentioned the anticipated stable interest rates by RBI’s Monetary Policy Committee, which could contribute to the maintenance of vehicle demand and positively impact auto sales.
Please note that the data presented is collated as of June 5, 2023, in collaboration with the Ministry of Road Transport & Highways, Government of India, and is based on information from 1,348 out of 1,434 Regional Transport Offices (RTOs). |
