The Federation of Automobile Dealers Associations (FADA) has published April 2022 vehicle retail data, which shows an overall growth of just over 37% compared with April 2021 data. However, it is important to note that April 2022 overall retail figures are more or less the same as March 2022 figures (16,27,975 vs 16,19,181), and the high YoY growth rate last month is only because of the lockdowns in effect in April 2021. But anyway, Mahindra & Mahindra continues to retain its 4th place in the PV segment, beating Kia by over 4,000 units.
Pretty much every segment shows strong double-digit growth in April 2022, again, for the aforementioned reasons. FADA President Vinkesh Gulati had the following to say –
The month of April saw similar auto retail figures as March 2022. While YoY comparison with April 2021 shows all categories in green with a high growth rate, it is important to note that both April 2021 and April 2020 were affected by nationwide lockdowns. Hence a better comparison will be with April 2019 which was a normal pre-covid month.
April 2022 when compared with April 2019 reveals that we are still not out of the woods as overall retails were down by 6%. Apart from PV and Tractors which grew handsomely by 12% and 30%, 2W, 3W and CV are yet to turn green as these categories were down by 11%, 13% and 0.5%, respectively.
With the Russia-Ukraine war continuing and China under lockdown, the global auto industry continues to witness a supply crunch as semiconductor shortage along with high metal prices and container shortage prevails. Customers of the PV segment hence continue to witness long waiting periods.
The 2W segment which has witnessed a slight increase in sales when compared with last month is extremely sensitive to price hikes and continues to remain below pre-covid levels. It is a clear sign that Bharat has not been keeping up with India. Apart from rural distress, multiple price hikes coupled with high fuel prices are keeping the price-sensitive entry-level 2W customers away.
OEM-wise market share data for April 2022 with YoY comparison: