Industry/Official

FADA: PV retail down by 5% in March 2022

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The Federation of Automobile Dealers Associations (FADA) has published March 2022 vehicle retail data, which shows an overall decline of nearly 3% compared with March 2021 data. The Passenger Vehicle segment, in particular, saw a YoY decline of nearly 5% last month. Mahindra & Mahindra continues to retain its 4th place in the PV segment, beating Kia by over 5,200 units.

FADA-all-India-vehicle-retail-data-March-2022

The two-wheeler segment appears to have recovered significantly compared with previous months’ data, while the three-wheeler segment continues to show double-digit growth. The Commercial Vehicle segment overall recorded a healthy growth of nearly 15% last month compared with March 2021 data. FADA President Vinkesh Gulati had the following to say –

Indian auto industry during March tried its best to be at par YoY but fell short by -3% and -30% when compared with March 2020 (a month which saw BS4 to BS6 transition). The two-wheeler segment which was already a non-performer due to rural distress saw further dampening due to the rise in vehicle ownership costs coupled with rising fuel costs. I once again urge all two-wheeler OEMs to introduce special schemes to uplift the morale of this segment to boost sales.

The three-wheeler segment was witnessing a shrinkage in market size due to permit issues, educational institutions being closed and work from home phenomenon. With India now completely opening up, the segment is seeing strong double-digit growth when compared with YoY. EVs are now contributing 45%+ market share in this segment. There is also good demand for load vehicles from captive customers.

PVs continues to see high demand and long waiting period as semiconductor availability still remains a challenge even though supplies slightly improved from the previous month. The Russia-Ukraine war and China lockdown will further dent supplies and hence press brakes on vehicle availability thus making the waiting period more frustrating for customers.

OEM-wise market share data for March 2022 with YoY comparison:

FADA-all-India-vehicle-retail-data-March-2022-two-wheelers

FADA-all-India-vehicle-retail-data-March-2022-passenger-vehicle

FADA-all-India-vehicle-retail-data-March-2022-commercial-vehicle

FADA-all-India-vehicle-retail-data-March-2022-three-wheelers

FADA-all-India-vehicle-retail-data-March-2022-tractor

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