Similarly, three-wheeler sales remained muted last month at 41,508 compared with 51,446 units in May 2019. In May last year, the retail sales stood at 5,215 units.
However, tractor sales were up last month at 52,487 units from 39,438 units in May 2019.
On the sales outlook, Gulati said while the Russia Ukraine war continues to create demand supply mismatch thus delaying the availability of PVs, RBI has warned of more inflation as the increase in wholesale prices will get passed on to the end consumers. “This will result in a lower disposable income which will ultimately hamper auto sales.”
Hence, FADA continues to remain cautious for any further recovery in auto sales in the near term, he noted.
