Excelsior Correspondent
JAMMU, Jan 8: Despite many headwinds, the auto retail sales in Jammu and Kashmir UT have registered a growth of 4.45 %.
This was announced by the Federation of Automobile Dealers Associations (FADA) Jammu here today. FADA today released vehicle retail data for CY’24 & Dec’23 for the UT of Jammu and Kashmir. In total the retail is 1,79,164 in CY’24 compared to it is 1,71,536 in CY’23 there by registering a growth of 4.45 %.
Speaking on the occasion, Sanjay Aggarwal, Chairperson, FADA Jammu said that despite multiple headwinds in CY24, including heat waves, elections at both central and state levels and uneven monsoons, the auto retail industry in UT of J&K remained resilient, closing the year with a 4.45% YoY growth. While 2W, 3W and Tractor segments grew by 9.79%, 17.11% and 19.51% YoY respectively, CV and PV segment was in degrowth by -5.35% and – 4.31% YoY respectively.”
“Overall, FADA remains optimistic that market recovery, coupled with strategic OEM support and policy-level clarity, will enable the automotive retail industry to end CY’25 on a robust note,” he added.
For December 2024, the 2-Wheeler category witnessed a downfall of -9.54 % at 3,319 units in December 2024, as compared to 3,669 units in December 2023.
The 3-Wheeler category witnessed a downfall of -16.46% at 939 units in December 2024, as compared to 1,124 units in December 2023.
The Commercial Vehicle category witnessed a downfall of -17.06% at 739 units in December 2024, as compared to 891 units in December 2023.
The Passenger Vehicle category witnessed a growth of 0.19% at 4,730 units in December 2024, as compared to 4,721units in December 2023.
The Tractor Vehicle category witnessed a growth of 33.85 % at 348 units in December 2024, as compared to 260 units in December 2023.
In total the retail is 10,075 in December 24 compared to it is 10,665 in December ’23 there by registering a downfall of -5.53.
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