FADA: PV retail up by over 14% in March 2023

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The Federation of Automobile Dealers Associations (FADA) has published March 2023 vehicle retail data, which shows an overall growth of nearly 14% compared with March 2022 data. The Passenger Vehicle (PV) segment, in particular, sold a total of 3,35,266 units last month, registering a YoY growth of over 14%. Tata Motors and Mahindra continue to hold their 3rd and 4th place, respectively, in the PV segment. Mahindra dealers retailed over 11,100 PVs more than Kia last month, keeping the latter in 5th place.

All primary segments were in green last month, with the three-wheeler segment registering nearly 69% growth. I’m not entirely sure who buys a three-wheeler for personal use, but apparently, this sub-segment was down by nearly 8%. But anyway, the PV segment saw a growth of nearly 14.5% last month, while the two-wheeler and CV segments with over 12% and 10% growth were not bad either. FADA President Manish Raj Singhania had the following to say:

The three-wheeler category witnessed a growth of 12% YoY but was down by 9% from its pre-covid levels. Rural India which still has not performed continues to remain under inflationary pressure. The three-wheeler segment achieved record-high retail sales by growing 69% and surpassing the previous high figures of March 2020, which was a month when the industry made the transition from BS4 to BS6.

The Passenger Vehicle segment saw a growth of 14% YoY. Better supplies coupled with better sales, though at the upper end of the spectrum kept the meter ticking. This apart from the increase in prices of OBD 2A vehicles coupled with multiple festivals in the month kept the sales healthy, though inquiry levels have now started decreasing.

And, for those who’d like to know FY 2023 numbers, well, it was 2,21,50,222 units in total, as opposed to 1,83,27,326 units in FY 2022, registering a growth of nearly 21%.

OEM-wise market share data for March 2023 with YoY comparison: