September sales brought in some reasons to cheer for the auto industry. In line with expectation of a strong sales in the ongoing festive month, the SIAM September data indicates a robust start to the celebrations. Overall automotive sales have jumped 21 percent in September to 2,093,286 vehicles from 1,727,008 sold last September.
The passenger vehicle segment is no doubt the star segment with sales of 307,389 vehicles, up nearly 92 percent from 160,212 sold in September, 2021. The UVs continue to garner maximum cosumer demand and clocked sales of 151,759 units compared to 87,862 vehicles sold last year same month, up 72 percent. Maruti Suzuki continues to maintain lead in this segment followed closely by Hyundai and Tata Motors.
The two-wheeler space, especially the entry level segment however remained laklustre indicative of muted rural demand. The recent hike in repo rates along with the hike in prices continue to impact sentiment. Overall two-wheeler sales saw slight uptick at 1,735,199 units, up around 13 percet from 1,537,604 sold last year same month. Maximum traction was seen in the motorcycle segment with sales for September coming in at 1,114,667 bikes from 948,161 vehicles sold last September, up 17 percent. Hero MotoCorp maintained its lead in the bike segment followed by Bajaj Auto and Honda Motorcycles. In terms of exports howe
Meanwhile for the three-wheeler segment it was an early Diwali on the sales chart…..total sales came in at 50,626 from 29,191 sold last September, up 73 percent. Maximum demand was seen in the passenger carrier segment.
It was however, a lacklustre month for exports. Total auto exports dipped 16 percent to 379,028 vehicles compared to 451,266 vehicles exported in September 2021. Bajaj Auto, one of the key exporters managed 125,443 exports compared to 187,091 two-wheelers last September. Even in the PV segment, key exporters like Maruti Suzuki and Hyundai saw flat growth.
Commenting on the sales outlook,Vinod Aggarwal, President, SIAM said, “We are hopeful that the industry will do well in the month of October, which has two major festivals of Dussehra and Diwali. Recent increase in the prices of CNG, higher repo rates and the Russia-Ukraine conflict are of concern and could impact the market in the coming months.”
Rajesh Menon, Director General, SIAM added, “September has been generally good for industry, as Passenger Vehicle segment has recorded highest ever sales in H1 and Commercial Vehicle segment has started showing trends of better market demand. Off-take of entry level two-wheelers and entry level passenger vehicles have been of concern especially as the rural demand has not picked up.”
