The Federation of Automobile Dealers Associations (FADA) has published September 2023 vehicle retail data, which shows an overall growth of just over 20.3% compared with September 2022 data. The Passenger Vehicle (PV) segment, in particular, sold a total of 3,32,248 units last month, registering a YoY growth of just over 19%. Tata Motors and Mahindra continue to hold their 3rd and 4th place, respectively, in the PV segment. Mahindra PV retailers sold over 11,900 units more than Kia last month, keeping the latter in the 5th place.
All segments were in green last month except for the Tractor segment—which registered a decline of over 9%. The three-wheeler segment, especially the goods carrier ones, continues to register a healthy double-digit growth. FADA President Manish Raj Singhania had the following to say:
September’s auto retail celebrated a 20% YoY leap, continuing the momentum from the previous month while marking a 3.5% MoM increase, seamlessly transitioning into the festive period’s sweet spot set to unfold over the next 42 days. The 2W segment witnessed positive shifts as the festive season approached. With the introduction of new models and attractive promotional offers, demand increased, especially in rural areas, fostering improved market sentiments. This uptick in demand was accompanied by heightened customer walk-ins and an overall positive market response.
The PV category experienced a stimulating resurgence as the market enjoyed improved vehicle availability and an influx of new and refreshed models from various OEMs. This uplift was supported by enhanced supplies and an increasing variety in the product portfolio, answering to a diversifying consumer demand. The market showed consistent demand for luxury cars and SUVs, signifying a robust consumer appetite for premium segments. The segment also witnessed the benefit of good pending bookings and the launch of promising products, laying the groundwork for potential growth in the upcoming festive season.
OEM-wise market share data for September 2023 with YoY comparison:
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