PS5 crushes Xbox in sales with over 5-to-1 ratio in November

In 2024, India's retail automobile sales demonstrated notable resilience, achieving a robust growth of 9.1% to reach 2.61 crore units. This growth occurred amidst varied challenges, including extreme weather conditions, election-related uncertainties, and unsteady monsoon patterns. Detailed data from the Federation of Automobile Dealers Association (FADA) revealed that different vehicle segments experienced varied growth rates. The two-wheeler segment saw an impressive increase of 10.7%, while three-wheelers expanded by 10.4%. Passenger vehicles grew by 5.1%, and tractor sales recorded a modest growth of 2.5%. In contrast, the commercial vehicle segment remained nearly flat with just a 0.07% gain, revealing challenges unique to that market. Despite this general yearly growth, December 2024 showed a significant decline in overall retail automobile sales by 12.4% compared to the previous December. The two-wheeler segment faced the harshest drop at 17.6%, while three-wheelers, passenger vehicles, and commercial vehicles saw declines of 4.5%, 1.9%, and 5.2% respectively. Interestingly, the tractor segment stood out positively with a notable 25.7% year-on-year increase in sales for December. These discrepancies highlight the differing market dynamics among various vehicle categories. Looking ahead, optimism exists for 2025, with FADA indicating that nearly 48% of automobile dealers anticipate growth in January 2025. About 41.22% expect sales to remain flat, while only 10.69% foresee a slowdown. The two-wheeler sector might experience benefits from improved minimum support prices and better rural liquidity; however, financing constraints and competition from electric vehicles continue to pose challenges. Additionally, passenger vehicle sales may gain momentum from new product launches and seasonal demand linked to marriage festivities and promotional activities. Nevertheless, potential price hikes could hinder overall growth in this sector. In long-term projections, a majority of dealers, approximately 66%, are optimistic about growth, while 26.72% expect stability and only a small fraction, 6.87%, anticipate a downturn. FADA remains confident that strategic support from original equipment manufacturers and clear policy guidance will enable the automotive retail sector to end 2025 on a strong note, despite the headwinds faced throughout the year. The shift towards electric vehicles and evolving consumer preferences will likely shape the industry landscape in the forthcoming years.