Despite improvement in wholesales, July PV retail continues to be in red

One of the key drivers for PV sales has been the introduction of newer models by OEMs across segment. Secondly, the demand and launch of compact SUV segment has helped bring in newer customers, who are now spoilt for choice.

Despite improvement in wholesales, July PV retail continues to be in red

The passenger vehicle segment in India is expected to reach record level this year. Thanks to demand for compact SUVs, mid-size vehicles and premium vehicles accelerating much faster than the slowdown in entry-level car sales.

But comparing the PV sales to the pre-Covid-19-led pandemic levels, the segment is on a ‘dream run’ says Vinkesh Gulati, President, Federation of Automobile Dealers Association (FADA).

In July the overall passenger vehicle retail sales came at 2,50,972 units, which was 5 percent lower YoY, and 4 percent lower compared to June. But when compared to retail sales of 2,43,183 units in July 2019 (pre-Covid month) the sales were higher by 3 percent.

One of the key drivers for PV sales has been the introduction of newer models by OEMs across segment. Secondly, the demand and launch of compact SUV segment has helped bring in newer customers, who are now spoilt for choice.

Interestingly, in a recent interaction with Financial Express, Gulati had revealed that the compact SUV segment now contributes around 50 percent of new car sales. You can see the interview here.

Looking at OEM-wise sales, the country’s largest carmaker, Maruti Suzuki India retailed 98,318 vehicles which was a decline of 14 percent YoY and 8 percent over the previous month.

Hyundai Motor India sold 40,056 vehicles which was 11 percent lower than July 2021, but 8 percent higher over the previous month.

Tata Motors on the other hand managed to improve retail on a YoY level by selling 36,048 vehicles, up 44 percent on YoY basis, but felt 3 percent short over the month of June. 

For Mahindra the retail sales have improved thanks to a robust demand and order book for its new range of vehicles. The company retailed 19,307 vehicles, which was 17 percent higher compared to the same month last year, and 0.5 percent lower than the previous month.

Kia Motors India sold 17,303 units, which was 8 percent higher on YoY basis, but 6 percent lower on MoM basis.

Despite a strong demand in the market for PV segment, the supply chain challenge and tentative increase in retail loans could play spoilsport. Overall, FADA says it remains cautiously optimistic due to the above factors as it enters the festival season.

CompanyJul ’22Jul ’21Change (in units)Change (in %)Jun ’22Change (in %) MoM
Maruti Suzuki India98,318114,607-16,289-14%106,948-8%
Hyundai Motor India40,05645,081-5,025-11%36,9528%
Tata Motors36,04825,11010,93844%36,974-3%
Mahindra & Mahindra19,30716,4652,84217%19,4000%
Kia Motors India17,30316,0721,2318%18,414-6%
Toyota Kirloskar Motor12,27710,0152,26223%12,0392%
Skoda Auto Volkswagen Group6,2643,8082,45664%7,042-11%
Skoda Auto Volkswagen India6,2183,5192,69977%7,010-11%
Volkswagen A/G1192-191-99%2-50%
Audi AG4392-49-53%2948%
Skoda Auto India25-3-60%1100%
Honda Cars India5,7126,856-1,144-17%6,818-16%
Renault India5,3817,939-2,558-32%5,787-7%
MG Motor India2,8833,683-800-22%3,311-13%
Nissan Motor India2,2073,564-1,357-38%2,1751%
Fiat India Automobiles1,12594218319%1,1161%
Mercedes-Benz Group9801,013-33-3%9286%
Mercedes-Benz India947889587%9015%
Mercedes-Benz AG32110-78-71%2719%
Daimler AG114-13-93%0NA
BMW India86366919429%872-1%
Force Motors285142143101%2706%
Jaguar Land Rover India160249-89-36%1600%
Volvo Auto India107122-15-12%108-1%
PCA Automobiles India5063-13-21%58-14%
Porsche AG483612NA58-17%
Automobili Lamborghini97229%580%
Ford India54,685-4,680NA16-69%
Bentley Motors5500%1400%
Rolls Royce32NA50%250%
Others1,5762,103-527-25%1,22928%
Total250,972263,238-12,267-5%260,683-4%

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