The Federation of Automobile Dealers Associations (FADA) has published July 2023 vehicle retail data, which shows an overall growth of 10% compared with July 2022 data. The Passenger Vehicle (PV) segment, in particular, sold a total of 2,84,064 units last month, registering a YoY growth of just over 4%. Tata Motors and Mahindra continue to hold their 3rd and 4th place, respectively, in the PV segment. Interestingly, Toyota Kirloskar Motor occupied 5th place last month by retailing over 1,000 units more than Kia, all thanks to the Toyota-Suzuki partnership.
The three-wheeler segment continues to show the highest percentage of growth, while the tractor segment with a growth of just over 21% wasn’t bad either. The two-wheeler segment registered a respectable growth of over 8%. FADA President Manish Raj Singhania had the following to say:
On a YoY basis, segments like 2W, 3W, PV, Tractor, and CV grew at rates of 8%, 74%, 4%, 21%, and 2%, respectively. On a MoM basis, except for 3W’s 9% growth, other segments declined. Compared with pre-Covid figures, auto retail decreased by 13%, with significant drops in 2W and CV at 23% and 4%, respectively. 3W hit record sales in July 2023 at 94,148 units, a 74% YoY and 9% MoM increase, surpassing the previous high of March 2023’s 86,857 units.
Despite challenges like heavy monsoons and a tilt towards EVs due to high fuel prices, 2W showed resilience in July 2023, with increased demand and trust in reputable brands. The 3W segment’s record numbers indicate industry potential and a growing EV interest. Yet, addressing issues like OEM support and dealer engagement remains crucial.
PV sales in July 2023 were a mix of challenges and triumphs. The month saw a surge in orders and timely OEM supplies, especially with the introduction of new products. However, severe monsoons and flood-like situations especially in North India, impacted sales. SUVs continued to remain a popular choice.
OEM-wise market share data for July 2023 with YoY comparison: