Early Times Report
JAMMU, July 6: 5th July'24, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for June'24 for the UT of Jammu and Kashmir.
The 2-Wheeler category witnessed a downfall of -2.65% at 7,708 units in June 2024, as compared to 7,918 units in June 2023. The 3-Wheeler category witnessed a downfall of -13.35% at 863 units in June 2024, as compared to 996 units in June 2023. The Commercial Vehicle category witnessed a downfall of -16.79% at 763 units in June 2024, as compared to 917 units in June 2023. The Passenger Vehicle category witnessed a downfall of -22.23% at 3,977 units in June 2024, as compared to 5,114 units in June 2023. The Tractor Vehicle category witnessed a downfall of -6.94% at 295 units in June 2024, as compared to 317 units in June 2023.
In total the retail is 13,606 in JUNE'24 compared to it is 15,262 in JUNE'23 thereby registering a downfall of -10.85%.
Aggarwal said, that the Indian automobile industry has historically been a good indicator of how well the economy is doing, as the automobile sector plays a key role in both macroeconomic expansion and technological advancement. The two-wheelers segment dominates the market in terms of volume, owing to a growing middle class and a huge percentage of India's population being young. Moreover, the growing interest of companies in exploring the rural markets further aided the growth of the sector.
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