Vehicle Retail For Jan 23 Grows 14% YoY: FADA
The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for January’23.
Commenting on how January 23 performed, FADA President, Manish Raj Singhania said, “January 23 witnessed total retail rising by 14 per cent YoY but was still down by 8 per cent, when compared to the pre-covid month of January 20. All categories were in the green with 2-Wheeler, 3-Wheeler, Passenger Vehicle, Tractor and Commercial Vehicles growing by 10 per cent, 59 per cent, 22 per cent, 8 per cent and 16 per cent respectively on YoY basis."
Category | JAN 231 | JAN 22 | YoY % |
2- Wheeler | 12,65,069 | 11,49,351 | 10.07% |
3- Wheeler | 65,796 | 41,487 | 58.59% |
Passenger Vehicle | 3,40,220 | 2,79,050 | 21.92% |
Tractor | 73,156 | 67,764 | 7.96% |
Commercial Vehicle | 82,428 | 70,853 | 16.34% |
Total | 18,26,669 | 16,08,505 | 13.56% |
The 2-Wheeler category showed a growth of 10 per cent YoY but when compared to 2021 and pre-covid month of January 20, it continued to see pressure as the same fell by 7 per cent and 13 per cent. While sentiments are improving at a snail’s pace and are better than what it was a year ago, rural market is yet to fully come to the party as cost of ownership has shot up significantly while disposable income has not increased in the same ratio.
The 3-Wheeler segment has seen 60 per cent growth YoY, 101 per cent growth when compared to 2021 and is now slightly down by mere 3 per cent when compared to pre-pandemic levels in January 20. EV fame-2 subsidy along with demand from commercial 3W space is fuelling healthy growth.
The Passenger Vehicle segment continues to perform well with growth of 22 per cent YoY, 10 per cent from January 21 and 8 per cent from pre-covid month of January 20. While good enquiry, healthy bookings and improved supplies are helping aid this segment, it is the entry level sub-segment which is still feeling the pinch. Apart from this, while waiting period for some models have come down, compact SUVs, SUVs and luxury vehicles continue to witness minimum waiting of 2-3 months.
The Commercial Vehicle category has also shown robust growth by growing 16 per cent YoY, 23 per cent from January 21 and 6 per cent from pre-covid month of January 20. Continued demand in the market due to replacement of fleet, growth in freight availability and government’s consistent push for infrastructure projects has helped the CV segment rise above pre-covid numbers.
