The automobile industry saw a 7.7% YoY decline in retail sales, but rose by 12.5% MoM in October 2023 to around 21.2 lakh units. Retail sales of two-wheelers were down by 12.6% YoY to 15.1 lakh units, while that of cars fell by 1.4% YoY to 5.3 lakh units.All segments of the industry observed a MoM rise during this period.