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In the year 2022, sales in August for retail vehicles every year rose by 8 per cent, per the statement of the Federation of Automobile Dealers Associations (FADA). Only tractor sales decreased by 32 per cent, and the rest of the categories have been growing in sales. Two-wheeler vehicle sales rose by 8.5 per cent, Three wheeler vehicles up by 83 per cent, passenger vehicles rose by 6.5 per cent, and commercial vehicles were up by 24 per cent.
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According to FADA, when sales compared with the last year, 2019 before covid month total vehicle retails continued to fall by seven per cent. Passenger vehicles showed double-digit growth of 41 per cent, commercial vehicles were up by six per cent, the rest of other categories fell by 16 per cent, three-wheeler fell by 1 per cent and tractors by 7 per cent.
According to FADA, “As semiconductor supply continues to ease, Auto Retail and PV segment especially, geared up to have the best festive season in a decade.” Commenting on August retail sales data, FADA President Manish Raj Singhania said, “Auto Retail for August’22 saw an overall growth of 8%. August opens the door for festival season to kick in. While Dealers anticipated good Ganesh Chaturthi in August, the results thus far have not been encouraging. Despite good monsoons, the festive season began with a dampener during Ganpati. With erratic monsoon, the crop realisation has been low and flood-like situation has restricted customer movement.”
While the two-wheeler segment has grown by 8.5 per cent every year, it continues to face Covid blues due to the underperformance of Bharat and is still not above 2019 levels. The price hikes have made the two-wheeler product out of reach for most entry-level customers. Continuously, the government push infrastructure spending, which shows in commercial space. Cautiously, optimistic enter in festive period changed by FADA.
