New Delhi, March 5 (TIWN) Rural distress as well as high acquisition cost subdued India's February automobile retail sales on a year-on-year (YoY) basis, FADA said.

Accordingly, data released by the Federation of Automobile Dealers Associations (FADA) showed a YoY fall of 9.21 per cent in overall automobile retail sales during the month under review.

The overall retail sales fell to 13,74,516 units last month from 15,13,894 units sold during the corresponding month of 2021.

Also, last month's overall retail sales figure, when compared to the February 2020 period, showed a decline of 20.65 per cent.

In February 2020, the overall vehicle retail sales stood at 17,32,161 units.

On a YoY basis, passenger vehicle (PV) retail sales last month fell by 7.84 per cent to 2,38,096 units last month from 2,58,337 units sold during the corresponding month of last year.

Similarly, two-wheeler retail sales declined last month YoY, by 10.67 per cent to 9,83,358 units.

Besides, tractor retail sales fell by 18.87 per cent to 50,304 units.