The Federation of Automobile Dealers Associations (FADA) has published September 2022 vehicle retail data, which shows an overall growth of nearly 11% compared with September 2021 data. The Passenger Vehicle segment retailed a total of 2,60,556 units last month as opposed to 2,37,502 units during the same period last year, registering a growth of just over 9.7%. In the PV segment, Tata Motors and Mahindra continue to hold their 3rd and 4th place, respectively. Mahindra dealers retailed 4,200 PVs more than Kia, keeping the latter in 5th place.
The two-wheeler segment registered a healthy growth of just over 9% in September 2022, while the three-wheeler segment overall continues to register a strong double-digit growth; last month it was nearly 72%. The CV segment with nearly 19% growth was not bad either, while the Tractor segment registered a marginal decline of 1.49%. FADA President Manish Raj Singhania had the following to say –
Auto retail for the month of September 2022 saw an overall growth of 11%. September witnessed both, the inauspicious period of Shradh (a.k.a Pitru Paksha) from 10-25th September and the festive period which began with Navratri on 26th September. Due to this, the full potential for the month was not realized as it should have been. When compared with September 2019, a pre-covid month, total vehicle retails continue to fall by 4% but narrowed the gap from previous months. PV segment continues to show extremely healthy figures by growing 44%. 3W, Tractor and CV also closed in green with an increase of 6%, 37% and 17% respectively. The 2W segment is yet to show signs of any revival as it remains a drag by falling as much as 14%.
Due to increased input costs, 2W companies raised prices by 5 times in the past year. Apart from this, RBIs fight with inflation saw rate hikes which continued to make vehicle loans expensive. The 3W segment continues to see a structural shift from ICE to EV. This is also reflected in the extremely healthy growth rate of e-rickshaws. While the CV segment grew by 19%, it’s the HCV segment that showed a healthy growth of 40% YoY. Reasons like better availability of vehicles, festivities, bulk fleet purchases and the Government’s continued push for infrastructure development made this segment shine.
The PV segment continued its bolt run by showing a growth of 10% YoY and 44% when compared to Sept 2019, a pre-covid month. Better availability due to easing semi-conductor supply, new launches and feature-rich products kept customers glued to dealerships for getting their favorite vehicles during the auspicious period.
OEM-wise market share data for September 2022 with YoY comparison: