The Federation of Automobile Dealers Associations (FADA) has published December 2022 vehicle retail data, which shows an overall decline of 5.4% compared with December 2021 data. However, the passenger vehicle segment registered a growth of just over 8% last month retailing a total of 2,80,016 vehicles as opposed to 2,58,921 vehicles retailed in December 2021. In the PV segment, Tata Motors and Mahindra continue to hold their 3rd and 4th place, respectively. Mahindra dealers retailed over 8,600 PVs more than Kia, keeping the latter in 5th place.
The two-wheeler segment showed a double-digit YoY decline of over 11%, apparently due to reasons such as inflation and increased cost of ownership in rural markets. The rest of the segments are..well, mostly in green. In the three-wheeler segment, the electric ones continue to contribute significantly to the segment’s growth. The CV segment showed an overall growth of over 10.6% last month, which is not bad either.
As for the calendar year 2022 retails, the overall growth is a healthy double-digit number of over 15%.
FADA President Manish Raj Singhania had the following to say on the three-wheeler, PV and tractor segments –
The three-wheeler segment which was completely down during covid has recovered well and has narrowed its gap when compared to CY 2019. Within the segment, it’s the electric rickshaw sub-segment which is showing triple-digit growth thus pushing the EV market share above the 50% mark. The PV segment has continued to show remarkable consistency in growth during the entire year. While supply woes have decreased, better product spread and ever-highest consumer offers have kept consumer interest on.
The CV segment has continued to grow during the entire CY 2022 and is now almost at par with CY 2019 retail. With the uptick in demand for LCV, HCV, Buses and Construction equipment, the government’s continued push for infrastructure development has kept this segment going.
The Tractor segment is the only other segment apart from PV which has grown well above CY 2021, 20 and the pre-covid year of 2019. It has also registered a new lifetime high sales of 7.94 lakh. This feat was possible due to consistently good monsoon, improved cash flow with farmers, better MSP of crops and the government’s focus on better procurements. Apart from this, timely sowing of the rabi crop also helped to continue this momentum. Festive season sales which were normal after 3 years also played their part in this strong momentum.
OEM-wise market share data for December 2022 with YoY comparison:
Recommended for you
Leave a Reply
Note: Comments that are unrelated to the post above get automatically filtered into the trash bin.
