Excelsior Correspondent
JAMMU, July 7: The Federation of Automobile Dealers Association (FADA) has released the vehicle retail data for June 2023 for Jammu and Kashmir.
As per FADA, the 2-wheeler category witnessed a downfall of -1.91% as compared to June 2022 while 3-wheeler category registered a growth of 115.58% with total sale of 996 units.
Likewise, commercial vehicle category witnessed a downfall of -13.67% with sale of 916 units as compared to 1061 in June 2022 whereas passenger vehicle category reported a growth of 15.29% as 5,044 units were sold in June 2023 as compared to 4,375 in June 2022.
The tractor vehicle category witnessed a downfall of -15.92%. “Overall, the total retail for June 2023 in J&K reached to 15,183 units, indicating a slight increase compared to 14,339 units in June 22,” the FADA added.
Chairperson of FADA Jammu Sanjay Aggarwal, while commenting on the performance of June’ 23, said, “June 2023 overall growth of 5.89% over corresponding month of last year. June’ 23 recorded multiple segment all-time highs as 3W and PV showed maximum strength when compared to previous June.”
He said that passenger vehicle segment faces inventory pressures and demand-supply mismatches, impacting profitability but the anticipation of a boost from the upcoming festive season beginning, end August offers a hopeful outlook.”
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