According to the vehicle retail data released by the Federation of Automobile Dealers Associations (FADA) for August 2022, Passenger Vehicle (PV) retail continues to witness robust growth. Meanwhile, the two-wheeler segment, despite being in the positive territory for the third successive year, failed to achieve its pre-pandemic figures.
The passenger vehicle retail stood at 2,74,448, up by 6.51 percent YoY. It is interesting to note that the segment has witnessed a massive uptick of 41.35 percent from the pre-Covid levels. Passenger vehicle sales in August 2019 came in at 1,94,165 units.
Maruti Suzuki India continues to lead the PV market, having registered 1,07,517 retails in the month. The company’s market share, however, saw a slight decline on YoY basis, falling at 39.18 percent as against 42.44 percent in August 2021.
MSIL was followed by Hyundai Motor India in the second spot. The South Korean country retailed 43,188 units in the month, having captured 15.74 percent of the market share. Tata Motors, on the other hand, ranked third with 37,725 retails and a market share of 13.75 percent.
Manish Raj Singhania, President, FADA said, “The PV segment continues to be on a bull run (grows 6.5% YoY) as demand for all subcategories of vehicles except entry level remained strong. This is also aided by new feature rich launches which OEMs are doing since the last few months. With semi-conductor shortage slowly becoming a passe, vehicle availability has definitely improved but waiting period continues to remain due to high demand in higher feature rich variants.”
The two-wheeler retails in August 2022 stood at 10,74,266, an uptick of 8.52 percent as against the retail of 9,89,969 in the corresponding month last year.
The retails in the two-wheeler segment, however, despite showing a growth compared to a lower year-ago base, substantially fell short of the 12,76,181 retails registered in the pre-pandemic market in August 2019. Erratic monsoon this year coupled with flood-like situation in some parts of the country have affected the two-wheeler sales. Price-hikes to countervail the rising prices of raw materials has been another factor that has led to muted sentiment in the two-wheeler space.
The battle for the pole in the two-wheeler segment is seemingly getting intense as market-leader Hero MotoCorp appears to have stumbled. Meanwhile, Honda Motorcycle has clocked steady growth in terms of sales and market share.
Hero MotoCorp retailed 3,02,787 units in the month, down by 4.14 percent as against 3,15,336 retails in the corresponding month last year. The company’s share fell at 28.19 percent from 31.85 percent in August 2021.
On the other hand, Honda 2W India, retailed 2,86,792 units, a substantial uptick of 15.50 percent as compared to its 2,48,288 units retailed in the year-ago period. The company saw a slight growth in its market share that went from 25.08 percent last year to 26.70 percent in August 2022.
TVS Motors ranked third, retailing 1,81,282 two-wheelers in the month, up by 20 percent, as against 1,50,374 units retailed in August last year. The company’s market share stood at 16.97 percent, up by 1.68 percent, against 15.19 percent in a year-ago base.