FADA Releases September’22 Vehicle Retail Data

FADA Releases September’22 Vehicle Retail Data

On YoY basis, total vehicle retail for the month of September’22 saw a growth of 11%.
Except tractors which decreased by -1.5%, all the other categories were in green. 2W, 3W, PV and CV were up by 9%, 72%, 10% and 19% respectively.
When compared with September’19, a pre-covid month, total vehicle retail continued to be lower by -4%. PV segment sustained its healthy run by growing 44%. Similarly, growth in 3W, Tractor and CV also closed in green by increasing 6%, 37% and 17% respectively. It is only the 2W segment which continues to be a drag as the same fell by -14%.
Rural India in states like HP, HR, UK, UP and JH showed weakness with lower contribution to Auto Retail especially in entry level 2W and PV category.
While overall retail in PV will be at a decade high during this festive season, it is the 2W category where Auto Industry continues to pin its hope for showing healthy growth.
 

4th October’22,Hyderabad: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for September’22.

September’22 Retails

Commenting on how September’22 performed, FADA President, Mr. Manish Raj Singhania said, “Auto Retail for the month of September’22 saw an overall growth of 11%. September witnessed both,  the inauspicious period of Shradh (a.k.a Pitru Paksha) from 10-25th September and festive period which began with Navratri on 26th September. Due to this, the full potential for the month was not realised as it should have been.

When compared with September’19, a pre-covid month, total vehicle retails continue to fall by -4% but narrowed the gap from previous months. PV segment continues to show extremely healthy figures by growing 44%. 3W, Tractor and CV also closed in green with an increase of 6%, 37% and 17% respectively. The 2W segment is yet to show signs of any revival as it remains a drag by falling as much as -14%.

The 2W segment showed a growth of 9% YoY but fell by -14% from Sept’19. Due to increased input costs, 2W companies raised prices by 5 times in past one year. Apart from this, RBIs fight with inflation saw rate hikes which continued to make vehicle loans expensive. While India is showing revival signs, Bharat is yet to perform. 2W especially entry level vehicles are finding extremely less buyers thus dragging the entire segment.

The 3W segment continues to see structural shift from ICE to EV. This is also reflected in extremely healthy growth rate of e-rickshaw’s. Apart from better availability of vehicles with full range products including alternate fuels, customers have started using public transport and rickshaw service thus fuelling demand in this segment.

While the CV segment grew by 19%, it is the HCV segment which showed a healthy growth of 40% YoY. Reasons like better availability of vehicles, festivities, bulk fleet purchase and Government’s continued push for infrastructure development made this segment shine.

The PV segment continued its ‘Bolt’ run by showing a growth of 10% YoY and 44% when compared to Sept’19, a pre-covid month. Better availability due to easing semi-conductor supply, new launches and feature rich products kept customers glued to dealerships for getting their favourite vehicles during the auspicious period. The waiting period continues to range between 3 months to 24 months especially for SUVs and compact SUVs which have become the absolute choice for today’s customers.”

Near Term Outlook

The month of October will see Auto Retail on high grounds with 24 days of festive season out of the total 31 days. Dealers anticipate this to be the best festive in a decade for PV segment as we anticipate even higher sales during the month. While semi-conductor supply continues to ease, FADA requests OEMs to match supply as per the demand so that PV sales can further receive a nitro-boost.

The enquiry level in 2W segment is showing positive movement. If this segment, especially entry level 2W also performs well improving its growth to low double digits, overall Auto Retail will see higher growth compared to last 2 festivals but may still lag pre-covid numbers of October’19. 

Overall, FADA continues to remain optimistic for the month of October due to the ongoing festive season.

Key Findings from our Online Members Survey

Inventory at the end of September’22
Average inventory for Passenger Vehicles ranges from 40-45 days
Average inventory for Two – Wheelers ranges from 45-50 days
 

Liquidity
Good                 51.2%
Neutral              36.2%
Bad                      12.6%
 

Sentiment
Good                 56.7%
Neutral               34.6%
Bad                      08.7%
 

Expectation from October
Growth               70.1%
Flat                      21.3%
De-growth         08.7%
 

Chart showing Vehicle Retail Data

All India Vehicle Retail Data for September’22
CATEGORY

SEP'22

SEP'21

YoY %

SEP'20

% Change w.r.t SEP'20

SEP'19

% Change w.r.t SEP'19

2W

10,15,702

 9,31,654

9.02%

10,56,997

-3.91%

11,81,668

-14.05%

3W

63,915

 37,172

71.94%

24,766

158.08%

60,565

5.53%

E-RICKSHAW(P)

32,153

 14,227

126.00%

6,884

367.07%

13,622

136.04%

E-RICKSHAW WITH CART (G)

1,720

 1,190

44.54%

630

173.02%

367

368.66%

THREE WHEELER (GOODS)

6,033

 6,415

-5.95%

5,395

11.83%

7,279

-17.12%

THREE WHEELER (PASSENGER)

23,960

 15,282

56.79%

11,796

103.12%

39,195

-38.87%

THREE WHEELER (PERSONAL)

49

 58

-15.52%

61

-19.67%

102

-51.96%

PV

2,60,556

 2,37,502

9.71%

2,03,300

28.16%

1,80,347

44.47%

TRAC

52,595

 53,392

-1.49%

70,140

-25.01%

38,374

37.06%

CV

71,233

 59,927

18.87%

41,084

73.38%

60,939

16.89%

LCV

43,076

37,536

14.76%

31,246

37.86%

38,377

12.24%

MCV

4,847

4,549

6.55%

2,396

102.30%

4,163

16.43%

HCV

21,318

15,271

39.60%

5,487

288.52%

17,316

23.11%

Others

1,992

2,571

-22.52%

1,955

1.89%

1,083

83.93%

Total

14,64,001

13,19,647

10.94%

13,96,287

4.85%

15,21,893

-3.80%

Source: FADA Research

 
Disclaimer:

The above numbers do not have figures from MP, LD & TS. Even though MP is now on Vahan, due to unavailability of previous year’s figure, we have not taken them in our comparison for September’22.
Vehicle Retail Data has been collated as on 02.10.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,339 out of 1,411 RTOs.
CV is subdivided in the following manner
LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
Others – Construction Equipment Vehicles and others
3W is sub-divided in the following manner
E-Rickshaw – Passenger
E-Rickshaw – Goods
3-Wheeler – Goods
3-Wheeler – Passenger
3-Wheeler – Personal
 
 

September’22 Category-wise market share can be found in Annexure 1, Page No. 05

About FADA India

Founded in 1964, Federation of Automobile Dealers Associations (FADA), is the apex national body of Automobile Retail Industry in India engaged in the sale, service and spares of 2/3 Wheelers, Passenger Cars, UVs, Commercial Vehicles (including buses and trucks) and Tractors. FADA India represents over 15,000 automobile dealers having 26,500 dealerships including multiple Associations of Automobile Dealers at the Regional, State and City levels representing the entire Auto Retail Industry. Together we employ ~4 million people at dealerships and service centres.

FADA India, at the same time also actively networks with the Industries and the authorities, both at the Central & State levels to provide its inputs and suggestions on the Auto Policy, Taxation, Vehicle Registration Procedure, Road Safety and Clean Environment, etc. to sustain the growth of the Automobile Retail Trade in India.

Annexure 1

OEM wise Market Share Data for the Month of September’22 with YoY comparison

Two – Wheeler (2W)

Two-Wheeler OEM

SEP'22

Market Share (%), SEP'22

SEP'21

Market Share (%), SEP'21

HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD

2,84,160

27.98%

2,40,640

25.83%

HERO MOTOCORP LTD

2,50,246

24.64%

2,78,630

29.91%

TVS MOTOR COMPANY LTD

1,70,796

16.82%

1,42,801

15.33%

BAJAJ AUTO LTD

1,05,914

10.43%

1,18,918

12.76%

ROYAL-ENFIELD (UNIT OF EICHER LTD)

55,415

5.46%

33,063

3.55%

SUZUKI MOTORCYCLE INDIA PVT LTD

54,256

5.34%

45,653

4.90%

INDIA YAMAHA MOTOR PVT LTD

43,390

4.27%

40,710

4.37%

OLA ELECTRIC TECHNOLOGIES PVT LTD

9,432

0.93%

-

0.00%

OKINAWA AUTOTECH PVT LTD

8,172

0.80%

3,266

0.35%

HERO ELECTRIC VEHICLES PVT. LTD

7,880

0.78%

6,293

0.68%

AMPERE VEHICLES PRIVATE LIMITED

6,073

0.60%

786

0.08%

ATHER ENERGY PVT LTD

6,150

0.61%

2,175

0.23%

PIAGGIO VEHICLES PVT LTD

3,063

0.30%

3,957

0.42%

CLASSIC LEGENDS PVT LTD

2,813

0.28%

2,400

0.26%

Others including EV

7,942

0.78%

12,362

1.33%

Total

10,15,702

100.00%

9,31,654

100.0%

Source: FADA Research

Disclaimer:

The above numbers do not have figures from MP, LD & TS. Even though MP is now on Vahan, due to unavailability of previous year’s figure, we have not taken them in our comparison for September’22.
Vehicle Retail Data has been collated as on 02.10.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,339 out of 1,411 RTOs.
Others include OEMs accounting less than 0.1% Market Share.
 

Three-Wheeler (3W)

Three-Wheeler OEM

SEP'22

Market Share (%), SEP'22

SEP'21

Market Share (%), SEP'21

BAJAJ AUTO LTD

19,474

30.47%

13,849

37.26%

PIAGGIO VEHICLES PVT LTD

5,116

8.00%

4,138

11.13%

YC ELECTRIC VEHICLE

2,564

4.01%

1,413

3.80%

MAHINDRA & MAHINDRA LIMITED

2,454

3.84%

1,150

3.09%

SAERA ELECTRIC AUTO PVT LTD

2,149

3.36%

730