India's Total Vehicle Sales Fell 19% In FY 2022 Against Pre-COVID FY 2020, But PV Sales Grew 11%

The Society of Indian Automobile Manufacturers (SIAM) has released the monthly sales data for the Financial Year 2021-22. During the April 2021 and March period, total vehicle sales in India, passenger vehicles, two-wheelers, commercial vehicles and quadricycles combined, stood at 1,75,13,596 units. Compared to 2,15,45,551 units sold during the pre-COVID fiscal year of 2019-20, the industry saw a decline of nearly 19 per cent, and a much higher drop of 33 per cent compared to 2,62,66,179 units sold in FY 2019. However, against the 1,86,20,233 vehicles sold in FY 2021, the year-on-year decline was just about 6 per cent.

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Commenting on annual sales data, Kenichi Ayukawa, President, SIAM said, "Despite some recovery from a low base, sales of all four segments of the auto industry are below even 2018-19 level. While some segments like Commercial Vehicles and SUVs are seeing improvement in demand, the mass segments like two-wheelers and smaller cars are facing serious affordability issues. Of course, our immediate challenge in most segments is semiconductor availability."

The PV segment saw a growth of 11 per cent in FY 2022, against 27,73,519 passenger vehicles sold during the same period in pre-COVID FY 2020

Total passenger vehicle sales during FY 2022 stood at 30,69,499 units, which is a 13 per cent growth compared to 27,11,457 vehicles sold between April 2020 and March 2021, and a growth of 11 per cent against 27,73,519 passenger vehicles sold during the same period in pre-COVID FY 2020. However, compared to 33,77,389 units sold in FY 2019, the segment saw a decline of about 9 per cent. Two-wheeler sales during FY 2022 stood at 1,34,66,412 units, which is an 11 per cent decline YoY compared to 1,51,20,783 vehicles sold in FY 2021. At the same time, compared to 1,74,16,432 units sold between April 2019 and March 2020, two-wheeler sales declined 23 per cent, whereas the same against 2,11,79,847 units sold in FY 2019 was a massive 36 per cent.

Also Read: India's Passenger Vehicle Sales Decline 6.5 Per Cent In February 2022: SIAM

Compared to 1,74,16,432 units sold between April 2019 and March 2020, two-wheeler sales declined 23 per cent in FY 2022

As for commercial vehicles, total sales from the segment stood at 7,16,566 units in FY 2022, a growth of 26 per cent compared to 5,68,559 vehicles sold between April 2020 and March 2021. The difference in sales remained flat compared to 7,17,593 units sold in FY 2020, but against 10,07,311 units sold in FY 2019, the CV segment saw a decline of 29 per cent. In FY 2022, total three-wheeler sales stood at 1,34,66,412, a decline of 11 per cent compared to 1,51,20,783 units sold in FY 2021. Compared to three-wheeler sales during the pre-COVID fiscal years of FY 2020 and FY 2019, the decline was 23 per cent and 36 per cent, respectively. As for Quadricycle sales, in FY 2022, the segment accounted for 124 units.

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In March 2022, total auto sales stood at 14,95,848 units, a YoY decline of 18 per cent compared to 18,20,062 vehicles sold in FY 2021. Passenger vehicle sales for the sale month stood at 2,79,501 units, a decline of 4 per cent compared the PVs sold during the same month in 2021. Two-wheeler sales stood at 11,84,210, witnessing a 21 per cent YoY decline, while three-wheeler sales remained flat at 32,088 units. Last month the industry sold 49 Quadricycles, a 7-fold growth compared to the 7 units sold in March 2021.