FADA released vehicle sales data for June 2022 revealing that a number of segments were now starting to rise back up to pre-pandemic levels. Total vehicle sales across all segments stood at 15,50,855 units up 27.16% over June 2021 though still short of the 16,98,324 units sold back in pre-pandemic June 2019. Going by individual segments, passenger vehicles, tractors and commercial vehicles posted gains over pre-pandemic levels in the month. Sales for three-wheelers also showed signs of recovery with sales de-growth narrowing down to about 6 per cent over pre-pandemic levels. Two wheeler sales meanwhile were down a notable 16.37% over June 2019. Compared to June 2021, all segments witnessed a growth in sales numbers.
Commenting on the auto industry’s performance for June 2022, FADA President, Vinkesh Gulati said, “Auto Retail for the month of June’22 continued to show its positive run when compared YoY with June’21, a month which continued to face the brunt of covid. When compared to June’19, a pre-covid month, overall sales were down by -9%. Apart from PV and Tractors which were already above pre-covid level for last few months and grew by 27% and 40%, CV for the first time showed a growth of 4% thus indicating recovery slowly creeping in for this segment. While 3W narrowed its de-growth and was at down by -6%, it’s the 2W segment which still remains the biggest cause of concern and is not picking as per expectation. The same was down by -16%.”
Gulati attributed the low two-wheeler sales to poor market sentiment particularly in rural India along with added factors including high cost of ownership and inflationary pressure. He added that the month was anyways lean for two-wheeler sales given the onset of monsoons across the country.
On the passenger vehicles sales, Gulati said, “The PV segment continued to see robust growth. An increase in wholesale clearly shows that semiconductor availability is now getting easier. Waiting period, especially in compact SUV and SUV segment continued to remain high. New vehicle launches are seeing robust booking thus reflecting healthy demand pipeline.”
Focusing on the PV segment, FADA’s numbers showed that Maruti remained comfortably at the top of the segment with a 41% market share for June 2022. Tata took second place ahead of Hyundai in sales numbers ahead of Hyundai recording 36,974 units sold as against the latter’s 36,952. Mahindra and Kia rounded out the top five manufacturers respectively. Meanwhile in the two-wheeler segment Hero continued to lead the segment followed by Honda and TVS – both recording gains in sales over June 2021. Bajaj and Suzuki rounded out the top five manufacturers for the month.
For the quarter ending June 2022, FADA’s data showed passenger vehicle, tractor and certain segments of commercial vehicles were starting to grow over pre-pandemic levels though the rest still remained in the negative.
