The Federation of Automobile Dealers Associations (FADA) has published October 2023 vehicle retail data, which shows an overall decline of nearly 8% compared with October 2022 data. The Passenger Vehicle (PV) segment, in particular, sold a total of 3,53,990 units last month, registering a YoY decline of over 1.3%. Tata Motors and Mahindra continue to hold their 3rd and 4th place, respectively, in the PV segment. Mahindra PV retailers sold over 14,000 units more than Kia last month, keeping the latter in the 5th place.
Although the PV segment showed a marginal decline last month, the number is higher than that of September 2023 data. The same is true in the case of the two-wheeler segment; despite registering over a 12% decline, the sales figure last month was significantly higher than the 13,12,101 registered in Sep 2023. But anyway, FADA President Manish Raj Singhania had the following to say:
When you consider MoM growth, auto retail flourished, achieving a 13% increase, with contributions from all categories. Two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles expanded by 15%, 2%, 7%, 15%, and 10%, respectively, underscoring the sector’s robust growth momentum.
Navratri of 2023 marked a milestone with retail sales soaring by 18% year-over-year, surpassing the figures of Navratri 2017. Except for tractors, which saw an 8% decline, all categories exhibited commendable growth. Two-wheelers, three-wheelers, commercial vehicles, and passenger vehicles experienced increases of 22%, 43%, 9%, and 7%, respectively.
The PV segment navigated a complex landscape, marked by both enthusiasm and caution. During Navratri, despite regional variability, the industry witnessed a surge in bookings, buoyed by the introduction of compelling new models, particularly SUVs and the availability of attractive consumer offers.
OEM-wise market share data for October 2023 with YoY comparison: