January 2024 FADA Three-Wheeler Retail Sales Report

In January 2024, the FADA retail sales report revealed a remarkable surge of 36.94% in 3-wheeler sales.

Bajaj Auto Ltd. emerged as the top performer in vehicle sales for the month.

In the latest FADA Retail Sales Report for January 2024, the automotive industry witnessed a notable surge, particularly in the 3-wheeler segment, indicating positive growth trends in the market.

The report revealed a remarkable 36.94% increase in three-wheeler sales compared to the same period last year. Bajaj Auto Ltd. emerged as the top performer in three-wheelers sales for the January month. The company's robust sales performance contributed significantly to the overall growth observed in the automotive sector.

Overall Three-Wheeler Sales

The most significant trend was the 36.94% increase in three-wheeler sales. Original equipment manufacturers (OEMs) in this segment sold 97,675 units in January 2024 compared to 71,325 units in January 2023.

OEM-wise Sales Analysis

Bajaj Auto Leads Three-Wheeler Sales Growth in January 2024

Bajaj, a leading player in the three-wheeler OEM market, has demonstrated impressive sales growth in January 2024. According to the latest report from the Federation of Automobile Dealers Associations (FADA), Bajaj sold 35,606 units of three-wheelers during the month. This marks a significant increase from the 27,024 units sold in January 2023, indicating a remarkable growth rate of 31.76%.

Piaggio Vehicles Pvt. Ltd

Piaggio Vehicles Pvt. Ltd., another key player in the three-wheeler market, demonstrated substantial growth in sales for January 2024. FADA's report revealed that Piaggio sold 7,651 units during the month, compared to 6,041 units sold in January 2023. This represents a growth rate of 26.65% compared to January 2023.

Mahindra & Mahindra Ltd.

Mahindra, a prominent name in the automotive sector, experienced substantial growth, with a 32.60% increase in retail sales. The brand sold 5,329 units in January 2024 compared to 4,019 units in January 2023.

Y.C. Electric

Y.C. Electric, a player in the electric three-wheeler segment, experienced a substantial increase in sales for January 2024. The brand sold 3,375 units during the month, marking a notable growth of 48.35% from the 2,275 units sold in January 2023.

SAERA ELECTRIC AUTO PVT LTD

SAERA ELECTRIC AUTO PVT LTD sold 2,359 three-wheelers in January 2024 compared to 1,749 units in January 2023.

Atul Auto

Atul Auto, a leading three-wheeler company, observed growth in its retail sales for January 2024. With 2,068 units sold compared to 1,837 units in January 2023, the brand recorded a growth rate of 12.57% in its sales performance.

Citylife (Dilli Electric Auto Pvt. Ltd.)

Citylife, also known as Dilli Electric Auto Pvt. Ltd., reported a decent growth in sales for January 2024. The brand sold 2,007 units in January 2024 compared to 1,493 units in January 2023, indicating a growth rate of 34.43%.

TVS Motors

TVS Motors concluded January 2024 with positive sales figures in the three-wheeler segment. The brand sold 1,786 units, reflecting a growth of 30.56% in January 2024.

Mini Metro

Mini Metro, a player in the three-wheeler market, witnessed a marginal decline in sales for January 2024. With 1,115 units sold compared to 1,117 units in January 2023, the brand experienced a decrease of 0.18% in its retail sales.

Also Read: FADA Sales Report: Commercial Vehicle Segment Shows Mixed Performance

Saarthi (Champion Poly Plast)

Saarthi, also known as Champion Poly Plast, reported a decline in sales for January 2024. With 993 units sold compared to 1,147 units in January 2023, the brand observed a decline of 13.43% in its sales performance.

Collective Surge in Three-Wheeler Sales for Other Brands

Various other brands, including electric vehicle manufacturers such as HOTAGE CORPORATION INDIA, UNIQUE INTERNATIONAL, and ENERGY ELECTRIC VEHICLES, witnessed a collective surge in sales for January 2024.

Electric Vehicles Shines in January 2024

One of the most noteworthy aspects of the report was the stellar performance of electric vehicles (EVs), which experienced a substantial sales growth of 52.17%. This surge in EV sales highlights the growing consumer interest and the adoption of electric mobility solutions.

FADA's disclosure of sales figures for 3-wheeler original equipment manufacturers (OEMs) provided insight into the positive sales upticks witnessed across all brands in January 2024. With a total of 97,675 units sold compared to 71,325 units in January 2023, the brands in the three-wheeler segment experienced a remarkable growth rate of 52.17%.

In summary, January 2024 set a strong foundation for the year, with robust growth across various vehicle segments. The automotive industry continues to evolve, and consumer preferences are shifting, especially towards electric mobility.