Commercial Vehicle Retail Sales Report in Oct 2022

The Federation of Automobile Dealers Associations (FADA) released vehicle retail data for October 22 and the 42-day holiday season.

On September 26th, the auspicious occasion of Navaratri began, followed by Dussehra, and Diwali on October 24th. After two years of pandemic disruption, it saw the highest wholesale dispatches for inventory in anticipation of good festive demand. Vehicle dispatches for CVs and 3Ws were lower in October when compared to September.

The Federation of Automobile Dealers Associations (FADA) released vehicle retail data for October 22 and the 42-day holiday season. Overall commercial vehicle retail sales increased significantly across all key categories, increasing 89% to 67,696 units (October'21: 35,810 units). This year's holiday season was the best in four years, providing much-needed relief to dealers and their brands.

Three-wheeler sales increased by 66% in October 2022, tractors by 17%, and commercial vehicles (CV) by 25%. In comparison to 2019, the CV segment grew by 25%.

Vehicle sales increased by 29% to 28,88,131 units during the 42-day holiday season, up from 22,42,139 units last year. In comparison to the previous holiday season, sales were up in all segments, including three-wheelers (68%), CVs (29%), and tractors (30%).

Three-Wheelers Sales

The total number of three-wheelers sold in the Indian market in October 2022 was 66,763 units. This represents a 26,512 unit increase in three-wheeler retail in India and a 65.86 percent year-on-year increase in total three-wheeler retail. The total number of three-wheelers sold in the Indian market in October 2021 was 40,251.

Bajaj Auto Ltd is leading the three-wheelers industry in sales.

Tractors Sales

The total number of tractors sold in the Indian market in October 2022 was 53,362 units. This represents a 7,917 unit increase in tractor retail in India, translating to a 17.42 percent year-on-year increase in total three-wheeler retail. The total number of tractors sold in the Indian market in October 2021 was 45,445 units.

Mahindra Tractor noticed a growth in tractor sales last month. Last year it generated 10,387 sales, whereas this October, it sold 12,144 units. But the company also witnessed a minor decline in its market share by 0.1%.

Commercial Vehicle Sales

The total number of commercial vehicles sold in the Indian market in October 2022 was 74,443 units. This represents a 15,080 unit increase in total commercial vehicle retail in India, representing a 25.40 percent year-on-year increase in total commercial vehicle retail. The total number of commercial vehicles sold in the Indian market in October 2021 was 59,363 units.

Tata Motors is at the top in sales of commercial vehicles.

The month of October'22 saw a 48% increase in auto retail sales. With the majority of the month devoted to the holiday season, sentiments were extremely positive across all categories of Dealership outlets.

Even when compared to the previous month of 2019, overall retails closed in the green for the first time, increasing by 8%. Except for 3W, which fell by 0.6%, all other categories such as 2W, PV, Tractor, and CV increased by 6%, 18%, 47%, and 13%, respectively.

Festive'22 brings joy to the auto industry because, for the first time, customers from every category came out in large numbers and participated in festive purchases, making it the best in the last four years. As predicted earlier, the PV segment had its best year in a decade, outgrowing 2020 figures by 2%. When compared to the pre-covid festive season of 2019, overall retail sales increased by 6%. All categories were in the green, with 2W, 3W, CV, PV, and Tractor increasing by 2%, 2%, 14%, 18%, and 55%, respectively.

FADA India Overview

The Federation of Automobile Dealers Associations (FADA), founded in 1964, is the apex national body of automobile dealers in India. FADA India represents over 15,000 automobile dealers with 26,500 dealerships, as well as multiple Automobile Dealer Associations at the regional, state, and city levels representing the entire Auto Retail Industry. At dealerships and service centres, FADA employs a total of 4 million people.

At the same time, FADA India actively networks with industries and authorities at both the Central and State levels to provide inputs and suggestions on auto policy, taxation, vehicle registration procedures, road safety, and clean environment, among other things, in order to sustain the growth of the automobile retail trade in India.

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