APRIL 4, 2023:The Federation of Automobile Dealers Associations (FADA) has released the Vehicle Retail Data for April 2023.
PERFORMANCE HIGHLIGHTS
Modest Vehicle Retail Performance in April to kick off FY'24: The fiscal year 2024 started with a slow start in vehicle retail performance in April.
4% decline in total vehicle retails: April witnessed a 4% decline in overall vehicle retails, indicating a sluggish beginning to FY'24.
Healthy YoY growth in 3-wheelers: The 3-wheeler segment experienced a significant year-on-year (YoY) growth of 57%.
Marginal growth in Tractor and Commercial Vehicle (CV) sales: Tractor sales observed a marginal growth of 1%, while CV sales experienced a 2% increase.
Setback for 2-wheelers and passenger vehicles: Both the 2-wheeler and passenger vehicle segments faced setbacks, declining by 7% and 1%, respectively.
YoY degrowth in passenger vehicles: For the first time in eight months, the passenger vehicle segment witnessed a YoY degrowth.
Struggles in the entry-level 2-wheeler segment: The entry-level 2-wheeler segment continued to face challenges, declining by 19% compared to April 2019 (pre-COVID), contributing to a 12% decline in total vehicle retails.
FADA urges GST rate reduction for 2-wheelers: FADA has appealed to the GST Council to consider reducing the GST rate for 2-wheelers from 28% to 18% to revive the struggling segment.
OBD 2A norms lead to price increases: The implementation of OBD 2A norms resulted in increased vehicle prices, which prompted advanced purchases in March.
Unfavourable weather conditions impacting sales: Unseasonal rains and hailstorms in April caused crop damage in several states, exacerbating farmer concerns. These conditions have the potential to impact entry-level 2-wheeler and passenger car sales.
These highlights provide an overview of the vehicle retail performance in April 2023 and shed light on the challenges faced by different segments of the automobile industry.
ALL INDIA VEHICLE RETAIL DATA FOR APRIL 2023
CATEGORY
APR'23
APR'22
YoY % (2022)
2W
12,29,911
13,26,773
-7.30%
3W
70,928
45,114
57.22%
E-RICKSHAW(P)
31,653
18,522
70.89%
E-RICKSHAW WITH CART (G)
2,732
1,611
69.58%
THREE WHEELER (GOODS)
7,872
7,174
9.73%
THREE WHEELER (PASSENGER)
28,618
17,753
61.20%
THREE WHEELER (PERSONAL)
53
54
-1.85%
PV
2,82,674
2,86,539
-1.35%
TRAC
55,835
55,019
1.48%
CV
85,587
83,987
1.91%
LCV
43,501
47,625
-8.66%
MCV
6,451
5,575
15.71%
HCV
32,165
28,558
12.63%
Others
3,470
2,229
55.68%
Total
17,24,935
17,97,432
-4.03%
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