The country’s automobile retail sales rose 17.51 per cent year on year to over 24 lakh units in August this year, according to a report released by the Federation of Automobile Dealers Associations. Sales of alternative-fuel passenger vehicles, including CNG, hybrids and electric vehicles, surpassed petrol-powered vehicles for the first time, accounting for 41.95 per cent of the market. Petrol vehicles held a 40.85 per cent share, marking a significant structural shift in consumer preferences.
Passenger vehicle (PV) sales grew 16.14 per cent, while commercial vehicle (CV) sales increased 14.45 per cent year on year in August. Rural automobile sales also outperformed their urban counterparts, growing 19.79 per cent annually compared with 15.17 per cent growth in urban sales.
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