Automobile slump: Confidence remains elusive; car sales skid 4.6% in Jan

Overall vehicle sales down by 7.13% YoY in Jan to 290,879 units

Sales of vehicles have continued to decline, with auto dealers saying that confidence is yet to return among buyers as many customers are holding back their decision to buy cars.

However, green shoots are visible especially in rural areas, with tractor sales showing an uptick. Retail sales of vehicles declined by 7.13 per cent year-on-year (YoY) in January to 290,879 units, according to the data released by Federation of Automobile Dealers Associations (FADA), the apex body of auto dealers on Thursday.

Retail sales are typically subdued in January after a brisk business in December. However, subdued consumer sentiment and persistent slowdown in