Auto Retail Registered Growth Of 26% In Nov 22: FADA
The positive run of festive sales to the Great Indian Wedding Season where around 32 lakh weddings will be solemnised across the country
Photo Credit : Reuters,
The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for November’22. Auto Retail in November’22 saw an overall growth of 26 per cent. 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 lakh weddings will be solemnised across the country. All categories were in green with 2W, 3W, PV, Tractor and CV growing by 24 per cent, 80 per cent, 21 per cent, 57 per cent and 33 per cent respectively.
“November 2022 has clocked the highest retails in the history of the Indian Automobile Industry with March’20 as an exception when retails were higher due to BS-4 to BS-6 transition,” said Manish Raj Singhania, FADA President.
CATEGORY | NOV'22 | NOV'21 | NOV'20 | YoY % (2021) | YoY % (2020) | NOV'19 | YoY % (2019) |
2W | 18,47,708 | 14,94,797 | 15,27,551 | 23.61% | 20.96% | 18,63,731 | -0.86% |
3W | 74,473 | 41,296 | 25,205 | 80.34% | 195.47% | 71,833 | 3.68% |
PV | 3,00,922 | 2,48,052 | 3,06,385 | 21.31% | -1.78% | 2,86,263 | 5.12% |
TRAC | 77,993 | 49,737 | 55,062 | 56.81% | 41.65% | 48,342 | 61.34% |
CV | 79,369 | 59,765 | 52,261 | 32.80% | 51.87% | 74,614 | 6.37% |
Total | 23,80,465 | 18,93,647 | 19,66,464 | 25.71% | 21.05% | 23,44,783 | 1.52% |
Even when compared to the pre-covid month of 2019, overall retails for the second consecutive month closed in green by growing 1.5 per cent. Except 2W, which saw a marginal dip of -0.9 per cent, all the other categories like 3W, PV, Trac and CV grew by four per cent, five per cent, 61 per cent and six per cent respectively.
The 2W segment showed a huge growth of 24 per cent YoY but fell marginally by 0.9 per cent, when compared to Nov’19, a pre-covid year. This segment is slowly turning the tides from negative to positive as the same can be witnessed from retail sales due to the ongoing wedding season.
The 3W segment showed a massive growth of 80 per cent YoY and four per cent 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 due to positive sentiments and fear of lockdowns out of mind. Also, electrification in the category continues at its highest pace.
The PV segment showed a growth of 21 per cent YoY and five per cent when compared to 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. Compact SUV and SUV category coupled with higher variant models continues to rule to roost.
The CV witnessed a growth of 33 per cent YoY and six per cent compared to 2019. With Government’s continued focus in the infrastructure space and new mining projects, replacement demand continued to pour in along with healthy inter-state passenger movement enabling bus sales.
