India’s general automobile retail gross sales grew 15.28 % to 2,11,20,441 models in 2022, led by report gross sales of passenger vehicles and tractors, the Federation of Automobile Dealers Associations (FADA) mentioned on Thursday. ).
In 2021, the full automobile retail gross sales in India have been 1,83,21,760 models, the FADA mentioned in a press release.
Two-wheeler retail gross sales have been 1,53,88,062 models final 12 months, a development of 13.37 % from 2021, when gross sales have been 1,35,73,682 models.
Retail passenger automobile (PV) gross sales have been 34,31,497 models in 2022, up from 29,49,182 models in 2021, up 16.35%, it added.
FADA Chairman Manish Raj Singhania mentioned: “For CY2022, while total vehicle retail sales grew 15% year-on-year and 17% compared to CY20, it failed to outperform CY19 retail sales (a year prior to Covid) and recorded a 10 percent drop.”
He additional mentioned, “The PV category during this period continued to gain new ground by recording retail sales of 34.31 lakhs for the whole year. This is by far the highest retail sales PV has made to date.”
Singhania, nevertheless, lamented that the 2-wheeler phase as soon as once more did not impress, as retail gross sales throughout December 2022 continued to fall after two good months.
“Reasons such as rising inflation, rising cost of ownership, the rural market has yet to fully recover, and increasing sales of electric vehicles, the ICE (internal combustion engine) two-wheeler segment. hasn’t seen any green shoots yet,” he added.
In 2022, retail gross sales of business automobiles stood at 8,65,344 models, in comparison with 6,55,696 models in 2021, a development of 31.97%.
“The CV segment has continued to grow throughout CY2022 and is now almost on par with CY2019 retail sales. With an increase in demand for LCVs (light commercial vehicles), HCVs (heavy commercial vehicles), buses and construction equipment, the government’s continued push for infrastructure development has kept this segment going,” Singhania mentioned.
He additionally mentioned that the three-wheeler phase, which was utterly idle throughout Covid, has recovered properly and narrowed its hole in comparison with CY2019.
“Within the segment, it is the electric rickshaw sub-segment that is showing triple-digit growth, driving the EV market share above 50 per cent,” he added.
The retail commerce of three-wheeled automobiles in 2022 stood at 6,40,559 models, in comparison with 3,73,562 models in 2021, 71.47% extra.
Singhania mentioned the tractor phase was the one different phase other than PV to have grown properly above calendar years 2021, 2020 and the pre-Covid 12 months of 2019.
“It has also posted a new all-time sales record of 7.94 lakh units. This feat was made possible by a consistent good monsoon, improved cash flow with farmers, better crop MSP and government focus on better acquisitions,” he added.
Tractor retail gross sales in 2021 have been 7,69,638 models.
Apart from this, the well timed planting of rabi crops additionally helped to proceed this momentum. Holiday season gross sales, which have been regular after 3 years, additionally performed a job on this sturdy momentum, Singhania mentioned.
In December 2022, FADA mentioned complete automobile retail gross sales fell 5.4 % to 16,22,317 models from 17,14,942 models within the prior-12 months month.
Retail gross sales of two-wheelers stood at 11,33,138 models final month, up from 12,75,894 models in December 2021, a lower of 11.19 %, the FADA mentioned.
Retail gross sales of passenger automobiles have been 280,016 models in comparison with 258,921 models in December 2021, a rise of 8.15%, whereas the industrial automobile phase registered retail gross sales of 66,945 models in comparison with 60,491 models in December 2021, a development of 10.67 %. penny.
Turning to the outlook, FADA mentioned world geopolitical headwinds, financial coverage tightening and the lingering impact of the pandemic have mixed to create a bleak world outlook.
“Car OEMs have made routine price increases in December and have announced the same earlier this year. Apart from this, with the coming into force of BS-VI Phase II regulations, there will be more price increases in all categories,” he mentioned, including. To counter this, automotive OEMs ought to announce particular schemes for the retail gross sales momentum to proceed.
Due to the strain of inflation, the upcoming change in automobile laws that may lead to worth will increase, FADA mentioned it stays cautious over the last quarter of fiscal 23.
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[Disclaimer: This story was automatically generated by a computer program and was not created or edited by Journalpur Staff. Publisher: Journalpur.com]