The Federation of Automobile Dealers Associations (FADA) has published January 2022 vehicle retail data, which shows an overall decline of nearly 11% compared with January 2021 data. The Passenger Vehicle segment, in particular, saw a YoY decline of just over 10%. While Mahindra & Mahindra continues to maintain its 4th place in the PV segment, interestingly, Kia has been pushed to 6th place by Toyota.
The two-wheeler segment continues to show a double-digit decline, while the three-wheeler segment continues to show strong double-digit growth. The Commercial Vehicle segment with over 20% growth isn’t bad either. FADA President Vinkesh Gulati had the following to say –
The month of January continues to show weak performance as overall retails on a YoY basis fell by -10.7%. While 3W and CV continue to remain in green with a growth of 30% and 20.5%, respectively, 2-Wheeler, PV and Tractors closed in negative with degrowth of -13%, -10% and -10%, respectively. Auto retails’ weak performance of -18.4% compared with January 2020 (a pre-covid month) continues to show that India is yet to recover from the covid effect which gripped the world 2 years ago.
In spite of good demand, the PV segment continues to face the brunt of semiconductor shortage resulting in a void of a healthy inventory. As for the 2-Wheeler category, the rural distress coupled with price rise and Omicron wave played a villain’s role for this segment. With the revival in the economy, the CV segment continues to show YoY growth, especially in the HCV category. With increased infrastructure spending by Central as well as State Governments, the overall CV segment remains in momentum. In fact, 55% of dealers in our internal survey said that they lost 105+ sales due to the Omicron wave.
OEM-wise market share data for January 2022 with YoY comparison: