New Vehicle Retails Drop 25% During FY2022 Compared To Pre-COVID Sales In FY2020

The Federation of Automobile Dealers Associations (FADA) has vehicle retail data for Financial Year 2021-22. Between April 2021 and March 2022, the auto industry collectively retailed 1,63,75,799 vehicles in India. Compared to 2,17,78,574 units sold during the pre-COVID FY 2019-20, the industry saw a decline of nearly 25 per cent. However, FADA says that FY 2022 was the first year of recovery after Covid hit us in 2020, and compared to 1,52,74,314 vehicles retailed in FY 2020-21, the industry saw year-on-year growth of 7.21 per cent. Commenting on the industry's performance, FADA President, Vinkesh Gulati said, "Despite total chaos especially in Bharat, India Auto Retails saw a 7 per cent rise YoY. All segments except Tractors closed in positive. While 2W saw the lowest growth (due to rural phenomenon), 3W, PV and CV all saw double-digit growths."

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Compared to 27,74,340 vehicles retailed in FY2020, the passenger vehicle segment saw a decline of 2 per cent in FY 2022

In FY 2022, the passenger vehicle segment witnessed retail sales of 27,26,047 units, down by nearly 2 per cent when compared to 27,74,340 vehicles retailed in FY2020. However, when compared to 23,87,925 units sold in FY 2021, the segment saw YoY growth of over 14 per cent. The two-wheeler segment, on the other hand, reported retail sales of 1,19,73,415 for the April 2021-March 2022 period. Compared to 1,68,46,527 units sold in FY 2020, the segment saw a massive decline of 29 per cent, however, when compared to 1,15,33,928 units retailed in FY 2021, the segment saw YoY growth of nearly 4 per cent.

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During the April 2021-March 2022 period, total three-wheeler sales stood at 3,88,093 units, a massive drop of 46 per cent compared to 7,19,643 units sold in FY 2020. However, the same segment, when compared to 2,58,172 three-wheelers retailed in FY 2021, saw a much higher growth of 50.32 per cent. At the same time, the commercial vehicle (CV) segment retailed 6,52,125 units. Compared to 8,82,524 units sold in FY 2020, the segment saw a decline of over 26 per cent, however, compared to 4,49,324 units sold in FY 2021 the YoY growth stood at over 45 per cent.

FADA says all segments except Tractors closed FY2022 on a positive note. Between April 2021 and March 2022, total tractor retails stood at 6,36,119 units, a YoY drop of 1.37 per cent

The trend however changes when we look at tractor sales. Between April 2021 and March 2022, total tractor retails stood at 6,36,119 units, a growth of 14.50 per cent when compared to 5,55,540 units sold in FY 2020. At the same time, when compared to 6,44,965 units sold in FY 2021, the segment saw a YoY decline of 1.37 per cent.

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As for March 2022, the situation was much direr. Cumulative retail sales stood at 16,19,181 units, a decline of 30 per cent compared to 23,12,868 units sold in March 2020. At the same time, compared to 16,66,996 vehicles retailed in FY 2021, retails were down by 2.87 per cent YoY. Last month, passenger vehicle sales stood at 2,71,358 units, a rise of 24 per cent compared to March 2020, but a decline of nearly 5 per cent compared to PV sales from March 2021. Two-wheeler sales in March 2022 stood at 11,57,681 units, a decline of over 37 per cent and 4 per cent compared to March 2020 and 2021, respectively.

Two-wheeler sales in March 2022 stood at 11,57,681 units, a decline of over 37 per cent and 4 per cent compared to March 2020 and 2021, respectively

At the same time, compared to March 2021, three-wheeler retails grew nearly 27 per cent in March 2022, at 48,284 units, but saw a decline of 37 per cent compared to retails from March 2020. Last month total CV sales also stood at 77,938 units, a rise of 15 per cent compared to March 2021, but a decline of 33 per cent compared to March 2020. In March 2022, total tractor retails stood at 63,920 units, a decline of 8 per cent compared to March 2021, but a growth of 20 per cent compared to tractor retails from March 2020.