Two-wheeler sales grew over pre-pandemic 2019 for the first time in October 2022 while passenger vehicle sales continued to maintain momentum. Two-wheeler sales stood at 15,71,165 units, a notable 51.10 per cent year-on-year growth over October 2021 and by 5.79 per cent over October 2019. Passenger Vehicle sales meanwhile stood at 3,28,645 units, a growth of 40.55 per cent over the same month last year and up 17.85 per cent over October 2019.
Three-wheeler sales stood at 66,763 units in the month up 65.87 per cent year-on-year but marginally down over the same month in 2019. CV sales stood at 74,443 units – up 12.88 per cent over 2019 while tractor sales stood at 53,362 units.
Overall industry sales stood at 20,94,378 units, up 47.62 per cent over October 2021 and 8.32 per cent over pre-pandemic 2019.
Commenting on how October’22 and Festive Period performed, FADA President, Manish Raj Singhania said, “Auto Retail for the month of October’22 saw an overall growth of 48%. With most of the month under festive period, the sentiments were extremely positive across all categories of Dealership outlets. Even when compared to pre-covid month of 2019, overall retails for the first time closed in green by growing 8%. Except 3W, which saw a marginal dip of -0.6% all the other categories like 2W, PV, Trac and CV grew by 6%, 18%, 47% and 13% respectively.”
FADA also reported strong growth in sales during the 42 day festive period with 28,88,131 units sold cumulatively in the period. The overall numbers were up 28.81 per cent over 2021 and 5.82 per cent up from pre-pandemic 2019. Two-wheeler sales in the festive period stood at 21,55,311 units – up 2.21 per cent over 2019, while passenger vehicle sales stood at 4,56,413 units (up 14.08 per cent over 2019).
“The PV segment showed a growth of 41% YoY and 18% when compared to 2019. PV segment continues to see extremely high demand especially in SUV and Compact SUV segments including higher variants in most of the product categories. With better vehicle availability coupled with new launches, the segment also witnessed the best Festive Period in a decade by surpassing 2020 festival sale by 2%,” Singhania said.
Focusing on the two-wheeler segment Singhania added, “The 2W segment showed a huge growth of 51% YoY and for the first time, 6% compared to Oct’19, a pre-covid year. With both Navratri and Deepawali majorly falling in a single month, the month of October saw double foot fall at Dealerships. Dealers say that sentiments have also started improving at the rural level but the same needs to sustain for at least next 3-4 months. Apart from this, new launches and good customer schemes also played a pivotal role in helping revival in demand.”
Sales in other segments also saw strong demand during the festive period with commercial vehicles, three-wheelers and tractors also posting double-digit growth in the 42-day period. Three-wheeler sales stood at 93,239 units – up 68.20 per cent over 2021 and 1.92 per cent over pre-pandemic 2019. Commercial vehicles reported cumulative sales of 1,05,566 units – up 29.25 per cent year-on-year and 14.08 per cent over 2019. Tractor sales meanwhile were up by 29.79 units year-on-year at 77,602 units.
“Festive’22 brings cheers to the Auto Industry as for the first time customers of every category came out in good numbers and took part in festive purchases thus making it the best in last 4 years. As anticipated earlier, PV segment saw the best year in a decade by outgrowing 2020 numbers by 2%. When compared to pre-covid festive of 2019, overall retails were up by 6%. All the categories were in green with 2W, 3W, CV, PV and Trac growing by 2%, 2%, 14%, 18% and 55% respectively,” Singhania said.
FADA said that the month immediately following the festive period generally witnessed a “certain amount of softness in sales”. The dealer body said that two-wheeler sales needed to continue its positive momentum (over pre-pandemic levels) for the next 3-4 months to come out of the woods. The organization also warned of a steep price increase across all categories of vehicles as manufacturers are set to migrate towards manufacturing new OBD-2 norm vehicles.
