Disclaimer: April’20 and April’21 witnessed nationwide lockdown during phase 1 and 2 of Covid. Hence, YoY comparison with these 2 years will not give a true representation for the state of Auto Retail.

April’22 Retails5th May’22, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for April’22.

Commenting on how April’22 performed, FADA President, Mr. Vinkesh Gulati said, The month of April saw similar Auto Retail figures as March’22. While YoY comparison with April’21 shows all categories in green with high growth rate, it is important to note that both April’21 and April’20 were affected by nation-wide lockdown due to phase 1 and 2 of the Covid wave which witnessed no to negligible business. Hence a better comparison will be with April’19 which was a normal pre-covid month.

April’22 when compared with April’19 reveals that we are still not out of the woods as overall retails were down by -6%. Apart from PV and Tractors which grew handsomely by 12% and 30%, 2W, 3W and CV are yet to turn green as these categories were down by -11%, -13% and -0.5% respectively.

With Russia – Ukraine war continuing and China under lockdown, the global Auto Industry continues to witness supply crunch as semi-conductor shortage along with high metal prices and container shortage prevails. Customers of PV segment hence continues to witness long waiting period.

The 2W segment which has witnessed slight increase in sales when compared to last month is extremely sensitive to price hikes and continues to remain below pre-covid levels. It is a clear sign that Bharat has not been keeping up with India. Apart from rural distress, multiple price hikes coupled with high fuel prices are keeping price sensitive entry level 2W customers away.

The CV segment after a long downturn which began post the announcement of axle load norms in 2018 is now witnessing demand recovery as all sub-categories continue to inch north. Government’s push for infra spending further aids sale.

Near Term Outlook

The Russia – Ukraine war and China lockdown will continue to create demand-supply mis-match thus delaying the availability of PVs. This coupled with RBIs out of turn announcement of increasing repo-rate by 45 bps has taken everyone off-guard. The move will curb excess liquidity in the system and will make auto loans expensive.

While PV segment may be able to absorb this shock due to long waiting periods, 2W segment is already reeling due to underperforming rural market, vehicle price hikes and high fuel costs. High interest rates for vehicle loan will be an additional blow for this segment. Certainly, this move will slow the speed of auto retail and dampen the sentiments further.

On the other hand, Private consumption is regaining traction backed by a recuperating contact-intensive services and rising discretionary spending. Also, Skymet has come out with its normal monsoon forecast. If the same is evenly distributed, it will have a positive rub-off on rural sentiment as farmers will be able to get better crop realisation thus increasing their disposable income. It will thus benefit Tractor and 2W sales. This along with marriage season in coming days will also see a traction in Auto Retail.

Overall, FADA changes its stance from extremely cautious to cautious in terms of slight recovery in near term.

Key Findings from our Online Members Survey

  • Inventory at the end of April’22
    • Average inventory for Passenger Vehicles ranges from 15 – 20 days
    • Average inventory for Two – Wheelers ranges from 20 – 25 days
  • Liquidity
    • Good 0%
    • Neutral 1%
    • Bad 9%
  • Sentiment
    • Good               0%
    • Neutral 1%
    • Bad 8%

Chart showing Vehicle Retail Data

All India Vehicle Retail Data for April’22

CATEGORY

APR’22APR’21YoY %APR’20% Change w.r.t APR’20APR’19% Change w.r.t APR’19
2W 11,94,520 8,65,62837.99% 3,18,596274.93%13,38,382-10.75%
3W 42,396 21,64095.91% 10,567301.21%48,733-13.00%
PV 2,64,342 2,10,68225.47% 22,0791097.26%2,36,21711.91%
TRAC 48,319 38,30626.14% 5,706746.81%37,01130.55%
CV 78,398 51,51552.18% 20,284286.50%78,781-0.49%
LCV 43,928  28,573 53.74% 12,866 241.43%43,9040.05%
MCV 4,742  3,552 33.50% 1,630 190.92%4,7290.27%
HCV 26,461  16,076 64.60% 5,018 427.32%27,200-2.72%
Others 3,267  3,314 -1.42% 770 324.29%2,94810.82%
Total16,27,975 11,87,771 37.06%3,77,232 331.56%17,39,124-6.39%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Retail Data has been collated as on 03.05.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,429 out of 1,613 RTOs.
  • CV is subdivided in the following manner
    1. LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
    2. MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
    3. HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
    4. Others – Construction Equipment Vehicles and others

OEM wise Market Share Data for the Month of April’22 with YoY comparison

Two – Wheeler (2W)
Two-Wheeler OEMAPR’22Market Share (%), APR’22APR’21Market Share (%), APR’21
HERO MOTOCORP LTD4,10,72234.38% 2,99,59734.61%
HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD2,94,72024.67% 2,17,92425.18%
TVS MOTOR COMPANY LTD1,80,15915.08% 1,28,42614.84%
BAJAJ AUTO LTD1,20,38910.08%     98,08511.33%
ROYAL-ENFIELD (UNIT OF EICHER LTD)47,0523.94%     42,2954.89%
SUZUKI MOTORCYCLE INDIA PVT LTD44,8073.75%     33,7333.90%
INDIA YAMAHA MOTOR PVT LTD41,3233.46%     34,8364.02%
OLA ELECTRIC TECHNOLOGIES PVT LTD12,6911.06%              –0.00%
OKINAWA AUTOTECH PVT LTD11,0120.92%       1,1930.14%
HERO ELECTRIC VEHICLES PVT. LTD6,5720.55%           6430.07%
AMPERE VEHICLES PRIVATE LIMITED6,5390.55%           7510.09%
PIAGGIO VEHICLES PVT LTD4,0360.34%       3,2750.38%
CLASSIC LEGENDS PVT LTD3,6790.31%       2,0470.24%
ATHER ENERGY PVT LTD2,4450.20%           9030.10%
PUR ENERGY PVT LTD1,7560.15%           5810.07%
REVOLT INTELLICORP PVT LTD1,2390.10%           1380.02%
Others including EV5,3790.45%1,2010.14%
Total11,94,520100.00%8,65,628100.0%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Retail Data has been collated as on 03.05.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,429 out of 1,613 RTOs.
  • Others include OEMs accounting less than 0.1% Market Share.
Three-Wheeler (3W)
Three-Wheeler OEMAPR’22Market Share (%), APR’22APR’21Market Share (%), APR’21
BAJAJ AUTO LTD13,37731.55%     7,74335.78%
PIAGGIO VEHICLES PVT LTD4,40210.38%     3,37915.61%
YC ELECTRIC VEHICLE1,8854.45%        7583.50%
MAHINDRA & MAHINDRA LIMITED1,7674.17%     1,3566.27%
ATUL AUTO LTD1,3103.09%        8333.85%
SAERA ELECTRIC AUTO PVT LTD1,1702.76%        3621.67%
TVS MOTOR COMPANY LTD1,1102.62%        4932.28%
MAHINDRA REVA ELECTRIC VEHICLES PVT LTD1,0722.53%        4522.09%
CHAMPION POLY PLAST9202.17%        3371.56%
DILLI ELECTRIC AUTO PVT LTD8141.92%        1890.87%
BEST WAY AGENCIES PVT LTD7161.69%        2901.34%
UNIQUE INTERNATIONAL6951.64%        1600.74%
MINI METRO EV L.L.P6381.50%        1730.80%
J. S. AUTO (P) LTD4981.17%        2161.00%
TERRA MOTORS INDIA PVT LTD4971.17%        1560.72%
VANI ELECTRIC VEHICLES PVT LTD4601.09%        2461.14%
Others including EV11,06526.10%4,49720.78%
Total42,396100.00%  21,640 100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Retail Data has been collated as on 03.05.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,429 out of 1,613 RTOs.
  • Others include OEMs accounting less than 1% Market Share.
Commercial Vehicle (CV)
Commercial Vehicle OEMAPR’22Market Share (%), APR’22APR’21Market Share (%), APR’21
TATA MOTORS LTD33,58142.83%21,81642.35%
MAHINDRA & MAHINDRA LIMITED16,85721.50%9,78318.99%
ASHOK LEYLAND LTD12,28415.67%8,19315.90%
VE COMMERCIAL VEHICLES LTD5,4466.95%3,4116.62%
MARUTI SUZUKI INDIA LTD3,4874.45%2,4474.75%
DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD1,5772.01%1,2482.42%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE8381.07%5391.05%
SML ISUZU LTD8081.03%4940.96%
Others3,5204.49%3,5846.96%
Total78,398100.00%51,515100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Retail Data has been collated as on 03.05.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,429 out of 1,613 RTOs.
Passenger Vehicle (PV)
Passenger Vehicle OEMAPR’22Market Share (%), APR’22APR’21Market Share (%), APR’21
MARUTI SUZUKI INDIA LTD1,06,14440.15%97,16346.12%
HYUNDAI MOTOR INDIA LTD38,07614.40%33,85416.07%
TATA MOTORS LTD36,35013.75%19,3219.17%
MAHINDRA & MAHINDRA LIMITED22,3218.44%11,9315.66%
KIA MOTORS INDIA PVT LTD16,7826.35%11,7225.56%
TOYOTA KIRLOSKAR MOTOR PVT LTD12,7194.81%8,8964.22%
SKODA AUTO VOLKSWAGEN GROUP7,7262.92%2,4541.16%
SKODA AUTO VOLKSWAGEN INDIA PVT LTD7,6972.91%2,3171.10%
VOLKSWAGEN AG/INDIA PVT. LTD.30.00%440.02%
AUDI AG250.01%750.04%
SKODA AUTO INDIA/AS PVT LTD10.00%180.01%
HONDA CARS INDIA LTD6,8522.59%5,4112.57%
RENAULT INDIA PVT LTD6,5342.47%7,1553.40%
MG MOTOR INDIA PVT LTD2,7531.04%2,8891.37%
NISSAN MOTOR INDIA PVT LTD2,2460.85%2,5191.20%
MERCEDES -BENZ GROUP1,0080.38%5750.27%
MERCEDES-BENZ INDIA PVT LTD9810.37%5500.26%
MERCEDES -BENZ AG260.01%130.01%
DAIMLER AG10.00%120.01%
FIAT INDIA AUTOMOBILES PVT LTD9480.36%7690.37%
BMW INDIA PVT LTD9610.36%5730.27%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE2250.09%1690.08%
VOLVO AUTO INDIA PVT LTD1200.05%920.04%
JAGUAR LAND ROVER INDIA LIMITED1050.04%1500.07%
PORSCHE AG GERMANY510.02%240.01%
PCA AUTOMOBILES INDIA PVT LTD430.02%200.01%
FORD INDIA PVT LTD320.01%4,2562.02%
AUTOMOBILI LAMBORGHINI S.P.A160.01%50.00%
BENTLEY MOTORS LTD40.00%00.00%
Others2,3260.88%7340.35%

Total

2,64,342100.00%2,10,682100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Retail Data has been collated as on 03.05.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,429 out of 1,613 RTOs.
Tractor (TRAC)

Tractor OEM

APR’22Market Share (%), APR’22APR’21Market Share (%), APR’21
MAHINDRA & MAHINDRA LIMITED (TRACTOR)10,69922.14%8,06821.06%
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)8,06416.69%6,22516.25%
INTERNATIONAL TRACTORS LIMITED5,80812.02%4,72012.32%
TAFE LIMITED5,52211.43%4,51011.77%
ESCORTS LIMITED (AGRI MACHINERY GROUP)5,01110.37%4,54211.86%
JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION)4,1678.62%3,2298.43%
EICHER TRACTORS3,1496.52%2,2345.83%
CNH INDUSTRIAL (INDIA) PVT LTD1,9063.94%1,8214.75%
KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD.1,1512.38%6191.62%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE3670.76%2440.64%
V.S.T. TILLERS TRACTORS LIMITED3460.72%2490.65%
INDO FARM EQUIPMENT LIMITED3270.68%1860.49%
CAPTAIN TRACTORS PVT. LTD.1430.30%1610.42%
Others1,6593.43%1,4983.91%
Total48,319100.00%38,306100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Retail Data has been collated as on 03.05.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,429 out of 1,613 RTOs.

NC

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