New Delhi: Retail sales of vehicles surged by 40.5% year-on-year to hit a record monthly number of 40.23 lakh in October led by strong demand boosted by reduction in GST rates, industry data showed on Friday.

A record 31.49 lakh two-wheelers were sold during the month of October, which is 51.76% higher when compared with the same month last year. Passenger vehicle sales soared by 11.35% to 5.57 lakh units during the month under review, as per data released by the Federation of Automobile Dealers Associations (FADA).

“After an almost quiet September for the first 21 days due to the GST 2.0 transition, October witnessed a swift rebound — almost like a hurdle race where pent-up demand passed the baton to festive sentiment and tax-cut excitement, propelling sales to historic levels,” said FA

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