Excelsior Correspondent
JAMMU, Aug 8: The Federation of Dealers Associations (FADA) has released the Vehicle Retail Data of July 2023 for the Union Territory of Jammu and Kashmir.
As per a statement, in the 2-wheeler category, there was a decline in the sales at the rate of -1.24% at 8609 units as it was 8717 units in the period of July 2022 while the 3-wheeler category experiences substantial growth of 70.25% as it is 1093 units this month compared to July 2022 when it was 642 units.
The commercial vehicle category also witnessed a downfall of -21% as it is 850 units this month against 1079 in July 2022 while as the passenger vehicle category witnessed a surge of 13.76% at 5968 units this month compared to 5246 in July 2022.
Additionally, the tractor vehicle category too witnessed a downfall of 10.94% at 294 this month compared to 265 last year in July.
Overall, the retail sales for July 2023 showed an increase as the retail this month was 16814 units compared to July 2022 when it was 15949 units.
FADA Jammu UT Chairperson, Sanjay Aggarwal, said, “July 2023 maintained a steady 5.42% growth. Like previous month, 3-wheeler and passenger vehicle showed maximum strength when compared to July 2022.”
He expressed optimism for the 2-wheeler sector, attributing it to the upcoming festivals, a balance in supply and demand, and the launch of new models.
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