Early Times Report
JAMMU, Jan 8: The Federation of Automobile Dealers Associations (FADA) Jammu today released Vehicle Retail Data for CY'24 & Dec'24 for the UT of Jammu and Kashmir.
For CY' 24 the 2-Wheeler category witnessed a growth of 9.79% at 93,033 units in CY'24, as compared to 84,734 units in CY'23. The 3-Wheeler category witnessed a growth of 17.11% at 13,369 units in CY'24, as compared to 11,416 units in CY'23. The Commercial Vehicle category witnessed a downfall of -5.35% at 11,067 units in CY'24, as compared to 11,693 units in CY'23.The Passenger Vehicle category witnessed a downfall of -4.31% at 57,946 units in CY'24, as compared to 60,556 units in CY'23. The Tractor Vehicle category witnessed a growth of 19.51% at 3,749 units in CY'24, as compared to 3,137 units in CY'23.
In total the retail is 1,79,164 in CY'24 compared to it is 1,71,536 in CY'23 thereby registering a growth of 4.45%.
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 4,721 units 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 thereby registering a downfall of -5.53.
Sanjay Aggarwal, Chairperson, Federation of Automobile Dealers Associations 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.
Looking ahead, Mr Aggarwal said that Auto Dealer sentiment for January remains cautiously optimistic, with nearly half dealers anticipating growth, 41.22% expecting stable demand and only 10.69% foreseeing a decline. In 2W, improved MSP and rural fund inflows could bolster sales, although financing challenges persist. The rise of EVs in this segment will also begin to impact entry-level 2W market share.
For PV, upcoming new launches, wedding-season demand, and year-start promotions should drive footfall, though potential price hikes could moderate gains. Overall, despite certain headwinds, Auto Dealers remain hopeful that steady product availability, strategic marketing and supportive government measures will sustain momentum in the near term. However, PV OEMs must carefully manage their supplies in line with market demand.
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 added Aggarwal. |
