India Auto Retail Defies Post-Festive Slowdown; PVs Up 20% in November

• India's auto retail sector defied the usual post-festive slowdown in November, with overall registrations up 2% year-on-year.
• This exceptional performance was attributed to GST rate cuts, ongoing OEM-dealer offers, and price reductions.
• Passenger vehicle registrations saw a strong 20% year-on-year increase, supported by GST benefits, marriage season demand, and improved supply of popular models.
• Two-wheeler registrations, however, declined 3% year-on-year, influenced by robust October festive buying, delayed crop payments, and uneven model availability.

Why It Matters: Strong auto sales post-festive season indicate robust consumer confidence.