The Federation of Automobile Dealers Associations (FADA) has published November 2022 vehicle retail data, which shows an overall growth of nearly 26% compared with November 2021 data. The Passenger Vehicle segment retailed a total of 3,00,922 units last month as opposed to 2,48,052 units during the same period last year, registering a growth of just over 21.3%. In the PV segment, Tata Motors and Mahindra continue to hold their 3rd and 4th place, respectively. Mahindra dealers retailed over 9,300 PVs more than Kia, keeping the latter in 5th place.
As was the case with the October 2022 data, every other segment was in green last month with significant double-digit growth. The three-wheeler segment, in particular, recorded over 80% growth in November 2022. FADA President Manish Raj Singhania had the following to say –
November 2022 clocked the highest retails in the history of the Indian automobile industry with March 2020 as an exception when retails were higher due to BS4 to BS6 transition. The baton was passed by the positive run of festive sales to the great Indian wedding season (from 14th November to 14th December) where around 32,00,000 weddings will be solemnized across the country. All categories were in green with 2W, 3W, PV, Tractor and CV segments growing by 24%, 80%, 21%, 57% and 33% respectively.
The 3W segment showed a massive growth of 80% YoY and 4% when compared to 2019, a pre-covid year. The category which was witnessing low demand during covid has now emerged as the highest-growing category. Also, electrification in the category continues at its highest pace.
The PV segment showed a growth of 21% YoY and 5% when compared with 2019. Better availability of model mixes from past months, new launches and an increase in rural demand continues to keep the segment in healthy condition. The compact SUV and SUV category coupled with higher variant models continue to rule.
OEM-wise market share data for November 2022 with YoY comparison: