Automobile industry posts record sales
Automotive sales in India reached 23.8 lakh units in November 2022, growing by a strong 26% YoY. This is the industry’s best sales performance till date barring March 2020, which was due to BS-4 to BS-6 transition.
Automotive sales achieved a historic high of 23.8 lakh units in November, according to data by Federation of Automobile Dealers Association (FADA), showing an impressive growth of 26% YoY.
Almost all categories of automobiles, 2-wheelers (24%), 3-wheelers (80%), passenger vehicles (21%), tractors (57%) and commercial vehicles (33%) recorded a jump during the month.
In comparison, auto sales were recorded at 18.93 lakh units in November 2021 and 23.44 lakh units in November 2019, which is a pre-COVID month.
India’s vehicle retail sales trend
Category | November 2022 | November 2021 | YoY% (2021) | November 2019 | YoY% (2019) |
PVs | 3,00,922 | 2,48,052 | 21.31 | 2,86,263 | 5.12 |
2W | 18,47,708 | 14,94,797 | 23.61 | 18,63,731 | -0.86 |
3W | 74,473 | 41,296 | 80.34 | 71,833 | 3.68 |
Tractors | 77,993 | 49,737 | 56.81 | 48,342 | 61.34 |
CVs | 79,369 | 59,765 | 32.80 | 74,614 | 6.37 |
Total | 23,80,465 | 18,93,647 | 25.71 | 23,44,783 | 1.52 |
Source: FADA, Values in number of units sold*
According to Manish Raj Singhania, President, FADA “November 2022 has clocked the highest retails in the history of the Indian automobile industry with March 2020 as an exception when retails were higher due to BS-4 to BS-6 transition.”
“The 2W segment showed a huge growth of 24% YoY but fell marginally by 0.9% when compared to November 2019, but the segment is showing positive response due to ongoing wedding season” added Singhania.
Leave a comment