- After 2 months of adrenaline rush, Auto Retail for the month of December’22 went into lull.
- On YoY basis, total vehicle retail during Dec’22 fell by -5%. Except for 2W which fell by -11%, all the categories were in green with 3W, PV, Tractor and CV growing by 42%, 8%, 5% and 11% respectively.
- When compared to pre-covid month of Dec’19, total vehicle retail was down by -12%. Here also, except 2W, which fell by -21%, all the other categories like 3W, PV, Tractor and CV closed in green by 4%, 21%, 27% and 9% respectively.
- For CY’22, total vehicle retail grew by 15% YoY, 17% when compared to 2020 but fell by -10% from pre-covid year of 2019.
- PV category continued to break all records by clocking 34.31L retail sales in CY’22.
- Similarly, Tractor category also broke all records to close at 7.94L vehicles in CY’22.
- With BS-VI phase 2 norms kicking in shortly, vehicle price hike may continue to affect sales during Q4 FY’23.
- For Auto Industry to fully rise above pre-covid period, Bharat and 2W segment needs to perform.
5th January’23, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for December’22 and CY’22.
December’22 & CY22 Retails
Commenting on how December’22 and CY’22 performed, FADA President, Mr. Manish Raj Singhania said, “The month of December went into lull after 2 super months of October and November which witnessed adrenaline rush in the entire Auto Industry.
December’22 saw an overall fall of -5%. While all other categories were in green, it was the 2W segment which once again dragged total sales by falling -11%. 3W, PV, Tractor and CV during the same period showed growth of 42%, 8%, 5% and 11%.
Compared to pre-covid month of December’19, total retails were down by -12%. Here also, the 2W segment pulled down total sales as the same fell by -21%. All the other categories like 3W, PV, Tractor and CV showed growth of 4%, 21%, 27% and 9% respectively.
For CY2022, while total vehicle retails grew by 15% YoY and 17% compared to CY’20 it failed to surpass CY19 retails, (a pre-covid year) and registered a fall of -10%. PV category during this period continued to gain new grounds by clocking 34.31L retails during the full year. This is by far, the highest retails which PV has done till date.
The 2W segment once again failed to impress as retail sales during Dec’22 continued to fall after 2 good months. Reasons like rise in inflation, increased cost of ownership rural market yet to pick up fully and increased EV sales, the ICE 2W segment is yet to see any green shoots.
The 3W segment which was completely down during covid has recovered well and has narrowed its gap when compared to CY2019. Within the segment it’s the electric rickshaw sub-segment which is showing triple digit growth thus pushing the EV market share above 50% mark.
The PV segment has continued to show remarkable consistency in growth during the entire year. While supply woes has decreased, better product spread and ever highest consumer offers have kept consumer interest on.
The CV segment has continued to grow during entire CY2022 and is now almost at part with CY2019 retails. With uptick in demand in LCV, HCV, Buses and Construction equipment’s, government’s continued push for infrastructure development has kept this segment going.
The Tractor segment is the only other segment apart from PV which has gown well above CY2021,20 and pre-covid year of 2019. It has also registered a new life time high sales of 7.94L. This feat was possible due to consistently good monsoon, improved cashflow with farmers, better MSP of crops and government’s focus on better procurements. Apart from this, timely sowing of rabi crop also helped to continue this momentum. Festive season sales which was normal after 3 years also played its part in this strong momentum.”
Near Term Outlook
Global geopolitical headwinds, tightening monetary policy and the lingering effect of the pandemic has combined to create a gloomy global outlook. The RBI has also increased repo rate by 225 basis points since May’22. However, supported by domestic growth, India is projected to be one of the world’s fastest growing economies.
The 1st 15 days of January usually sees low sales prior to Lohri/ Sakranti. Auto OEMs have done routine price hikes in December and have announced the same at the beginning of this year. Apart from this, BS-VI phase 2 norms coming in, there will be further price hikes across all categories. To counter this, Auto OEMs should announce special schemes so that retail sales momentum continues.
Due to inflation pressure, upcoming change in vehicle norms resulting in price hikes, FADA remains cautious during the last qtr. of FY’23.
Key Findings from our Online Members Survey
- Inventory at the end of December’22
- Average inventory for Passenger Vehicles ranges from 35 – 40 days
- Average inventory for Two – Wheelers ranges from 25 – 30 days
- Liquidity
- Good 54.5%
- Neutral 27.3%
- Bad 18.2%
- Sentiment
- Good 51.8%
- Neutral 30.0%
- Bad 18.2%
Chart showing Vehicle Retail Data for December’22 and Calendar Year 2022
All India Vehicle Retail Data for December’22
| CATEGORY | DEC’22 | DEC’21 | DEC’20 | YoY % (2021) | YoY % (2020) | DEC’19 | YoY % (2019) |
| 2W | 11,33,138 | 12,75,894 | 15,97,554 | -11.19% | -29.07% | 14,25,994 | -20.54% |
| 3W | 63,655 | 44,983 | 28,751 | 41.51% | 121.40% | 61,077 | 4.22% |
| E-RICKSHAW(P) | 28,860 | 20,735 | 8,949 | 39.18% | 222.49% | 13,552 | 113% |
| E-RICKSHAW WITH CART (G) | 1,805 | 1,414 | 882 | 27.65% | 104.65% | 578 | 212% |
| THREE WHEELER (GOODS) | 7,153 | 6,504 | 5,916 | 9.98% | 20.91% | 8,340 | -14% |
| THREE WHEELER (PASSENGER) | 25,793 | 16,273 | 12,963 | 58.50% | 98.97% | 38,494 | -32.99% |
| THREE WHEELER (PERSONAL) | 44 | 57 | 41 | -22.81% | 7.32% | 113 | -61.06% |
| PV | 2,80,016 | 2,58,921 | 2,94,265 | 8.15% | -4.84% | 2,30,939 | 21.25% |
| TRAC | 78,563 | 74,653 | 83,233 | 5.24% | -5.61% | 61,803 | 27.12% |
| CV | 66,945 | 60,491 | 53,656 | 10.67% | 24.77% | 61,370 | 9.08% |
| LCV | 38,950 | 37,384 | 35,821 | 4.19% | 8.74% | 39,831 | -2.21% |
| MCV | 4,018 | 4,482 | 3,534 | -10.35% | 13.70% | 3,944 | 1.88% |
| HCV | 21,269 | 16,803 | 11,962 | 26.58% | 77.80% | 16,167 | 31.56% |
| Others | 2,708 | 1,822 | 2,339 | 48.63% | 15.78% | 1,428 | 89.64% |
| Total | 16,22,317 | 17,14,942 | 20,57,459 | -5.40% | -21.15% | 18,41,183 | -11.89% |
Source: FADA Research
All India Vehicle Retail Data for Calendar Year 2022
| CATEGORY | CY’22 | CY’21 | CY’20 | YoY % (2021) | YoY % (2020) | CY’19 | YoY % (2019) |
| 2W | 1,53,88,062 | 1,35,73,682 | 1,39,26,085 | 13.37% | 10.50% | 1,82,04,593 | -15.47% |
| 3W | 6,40,559 | 3,73,562 | 3,76,431 | 71.47% | 70.17% | 7,18,093 | -10.80% |
| E-RICKSHAW(P) | 2,94,111 | 1,32,851 | 81,372 | 121.38% | 261.44% | 1,25,820 | 134% |
| E-RICKSHAW WITH CART (G) | 20,730 | 13,970 | 5,816 | 48.39% | 256.43% | 4,733 | 338% |
| THREE WHEELER (GOODS) | 78,559 | 67,865 | 71,936 | 15.76% | 9.21% | 99,830 | -21% |
| THREE WHEELER (PASSENGER) | 2,46,559 | 1,58,399 | 2,16,746 | 55.66% | 13.75% | 4,86,306 | -49.30% |
| THREE WHEELER (PERSONAL) | 600 | 477 | 561 | 25.79% | 6.95% | 1,404 | -57.26% |
| PV | 34,31,497 | 29,49,182 | 24,38,424 | 16.35% | 40.73% | 29,69,574 | 15.56% |
| TRAC | 7,94,979 | 7,69,638 | 7,23,904 | 3.29% | 9.82% | 6,44,612 | 23.33% |
| CV | 8,65,344 | 6,55,696 | 5,60,056 | 31.97% | 54.51% | 8,80,904 | -1.77% |
| LCV | 5,14,621 | 4,08,158 | 3,80,720 | 26.08% | 35.17% | 5,29,317 | -2.78% |
| MCV | 57,620 | 48,073 | 36,878 | 19.86% | 56.24% | 61,088 | -5.68% |
| HCV | 2,67,414 | 1,75,342 | 1,25,170 | 52.51% | 113.64% | 2,72,945 | -2.03% |
| Others | 25,689 | 24,123 | 17,288 | 6.49% | 48.59% | 17,554 | 46.34% |
| Total | 2,11,20,441 | 1,83,21,760 | 1,80,24,900 | 15.28% | 17.17% | 2,34,17,776 | -9.81% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 02.01.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,341 out of 1,428 RTOs.
- CV is subdivided in the following manner
- LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
- MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
- HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
- Others – Construction Equipment Vehicles and others
- 3W is sub-divided in the following manner
- E-Rickshaw – Passenger
- E-Rickshaw – Goods
- 3-Wheeler – Goods
- 3-Wheeler – Passenger
- 3-Wheeler – Personal
OEM wise Market Share Data for the Month of December’22 with YoY comparison
| Two – Wheeler (2W) | ||||
| Two-Wheeler OEM | DEC’22 | Market Share (%), DEC’22 | DEC’21 | Market Share (%), DEC’21 |
| HERO MOTOCORP LTD | 3,30,175 | 29.14% | 4,43,809 | 34.78% |
| HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD | 2,94,011 | 25.95% | 2,84,998 | 22.34% |
| TVS MOTOR COMPANY LTD | 1,76,072 | 15.54% | 1,90,457 | 14.93% |
| BAJAJ AUTO LTD | 1,25,854 | 11.11% | 1,64,133 | 12.86% |
| ROYAL-ENFIELD (UNIT OF EICHER LTD) | 56,028 | 4.94% | 41,675 | 3.27% |
| SUZUKI MOTORCYCLE INDIA PVT LTD | 53,043 | 4.68% | 42,643 | 3.34% |
| INDIA YAMAHA MOTOR PVT LTD | 39,860 | 3.52% | 39,357 | 3.08% |
| OLA ELECTRIC TECHNOLOGIES PVT LTD | 17,280 | 1.52% | 240 | 0.02% |
| HERO ELECTRIC VEHICLES PVT. LTD | 8,091 | 0.71% | 6,061 | 0.48% |
| ATHER ENERGY PVT LTD | 7,646 | 0.67% | 1,813 | 0.14% |
| OKINAWA AUTOTECH PVT LTD | 5,279 | 0.47% | 6,101 | 0.48% |
| AMPERE VEHICLES PRIVATE LIMITED | 4,408 | 0.39% | 3,343 | 0.26% |
| PIAGGIO VEHICLES PVT LTD | 2,711 | 0.24% | 3,790 | 0.30% |
| CLASSIC LEGENDS PVT LTD | 2,681 | 0.24% | 2,484 | 0.19% |
| OKAYA EV PVT LTD | 1,449 | 0.13% | – | 0.00% |
| BEING INDIA ENERGY AND TECHNOLOGY PVT LTD | 966 | 0.09% | 1,094 | 0.09% |
| PUR ENERGY PVT LTD | 780 | 0.07% | 1,685 | 0.13% |
| KINETIC GREEN ENERGY & POWER SOLUTIONS LTD | 749 | 0.07% | – | 0.00% |
| JITENDRA NEW EV-TECH PVT. LTD | 669 | 0.06% | 493 | 0.04% |
| BGAUSS AUTO PRIVATE LIMITED | 592 | 0.05% | – | 0.00% |
| Others Including EV | 4,794 | 0.42% | 41,718 | 3.27% |
| Total | 11,33,138 | 100% | 12,75,894 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 02.01.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,341 out of 1,428 RTOs.
- Others include OEMs accounting less than 0.1% Market Share.
| Three-Wheeler (3W) | ||||
| Three-Wheeler OEM | DEC’22 | Market Share (%), DEC’22 | DEC’21 | Market Share (%), DEC’21 |
| BAJAJ AUTO LTD | 22,065 | 35% | 14,349 | 31.90% |
| PIAGGIO VEHICLES PVT LTD | 5,013 | 8% | 4,119 | 9.16% |
| MAHINDRA & MAHINDRA LIMITED | 2,491 | 4% | 1,636 | 3.64% |
| YC ELECTRIC VEHICLE | 2,376 | 4% | 2,290 | 5.09% |
| SAERA ELECTRIC AUTO PVT LTD | 1,837 | 3% | 1,070 | 2.38% |
| MAHINDRA REVA ELECTRIC VEHICLES PVT LTD | 1,752 | 3% | 797 | 1.77% |
| ATUL AUTO LTD | 1,558 | 2% | 1,475 | 3.28% |
| DILLI ELECTRIC AUTO PVT LTD | 1,231 | 2% | 837 | 1.86% |
| TVS MOTOR COMPANY LTD | 1,101 | 2% | 777 | 1.73% |
| CHAMPION POLY PLAST | 920 | 1% | 1,074 | 2.39% |
| MINI METRO EV L.L.P | 900 | 1% | 604 | 1.34% |
| UNIQUE INTERNATIONAL | 783 | 1% | 673 | 1.50% |
| TERRA MOTORS INDIA PVT LTD | 779 | 1% | 447 | 0.99% |
| ALLFINE INDUSTRIES PVT LTD | 700 | 1% | 387 | 0.86% |
| J. S. AUTO (P) LTD | 617 | 1% | 563 | 1.25% |
| OMEGA SEIKI PVT LTD | 586 | 1% | 102 | 0.23% |
| Others including EV | 18,946 | 30% | 13,783 | 30.64% |
| Total | 63,655 | 100% | 44,983 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 02.01.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,341 out of 1,428 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Commercial Vehicle (CV) | ||||
| Commercial Vehicle OEM | DEC’22 | Market Share (%), DEC’22 | DEC’21 | Market Share (%), DEC’21 |
| TATA MOTORS LTD | 26,049 | 38.91% | 26,614 | 44.00% |
| MAHINDRA & MAHINDRA LIMITED | 16,928 | 25.29% | 12,202 | 20.17% |
| ASHOK LEYLAND LTD | 10,178 | 15.20% | 8,224 | 13.60% |
| VE COMMERCIAL VEHICLES LTD | 4,113 | 6.14% | 3,591 | 5.94% |
| MARUTI SUZUKI INDIA LTD | 3,043 | 4.55% | 3,737 | 6.18% |
| DAIMLER INDIA COMMERCIAL VEHICLES | 1,470 | 2.20% | 1,142 | 1.89% |
| FORCE MOTORS LIMITED | 699 | 1.04% | 579 | 0.96% |
| SML ISUZU LTD | 591 | 0.88% | 561 | 0.93% |
| Others | 3,874 | 5.79% | 3,841 | 6.35% |
| Total | 66,945 | 100.00% | 60,491 | 100.00% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 02.01.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,341 out of 1,428 RTOs.
| Passenger Vehicle (PV) | ||||
| PV OEM | DEC’22 | Market Share (%), DEC’22 | DEC’21 | Market Share (%), DEC’21 |
| MARUTI SUZUKI INDIA LTD | 1,16,662 | 41.66% | 1,08,618 | 41.95% |
| HYUNDAI MOTOR INDIA LTD | 41,287 | 14.74% | 40,983 | 15.83% |
| TATA MOTORS LTD | 36,826 | 13.15% | 32,706 | 12.63% |
| MAHINDRA & MAHINDRA LIMITED | 26,777 | 9.56% | 19,021 | 7.35% |
| KIA MOTORS INDIA PVT LTD | 18,126 | 6.47% | 12,298 | 4.75% |
| TOYOTA KIRLOSKAR MOTOR PVT LTD | 10,125 | 3.62% | 11,556 | 4.46% |
| HONDA CARS INDIA LTD | 6,816 | 2.43% | 7,335 | 2.83% |
| SKODA AUTO VOLKSWAGEN GROUP | 6,826 | 2.44% | 5,213 | 2.01% |
| SKODA AUTO VOLKSWAGEN INDIA PVT LTD | 6,790 | 2.42% | 4,950 | 1.91% |
| VOLKSWAGEN AG/INDIA PVT. LTD. | 2 | 0.00% | 66 | 0.03% |
| AUDI AG | 31 | 0.01% | 154 | 0.06% |
| SKODA AUTO INDIA/AS PVT LTD | 3 | 0.00% | 43 | 0.02% |
| RENAULT INDIA PVT LTD | 5,877 | 2.10% | 7,883 | 3.04% |
| MG MOTOR INDIA PVT LTD | 3,060 | 1.09% | 2,704 | 1.04% |
| NISSAN MOTOR INDIA PVT LTD | 2,313 | 0.83% | 3,304 | 1.28% |
| MERCEDES -BENZ GROUP | 1,312 | 0.47% | 1,033 | 0.40% |
| MERCEDES-BENZ INDIA PVT LTD | 1,276 | 0.46% | 999 | 0.39% |
| MERCEDES -BENZ AG | 35 | 0.01% | 28 | 0.01% |
| DAIMLER AG | 1 | 0.00% | 6 | 0.00% |
| BMW INDIA PVT LTD | 818 | 0.29% | 838 | 0.32% |
| FIAT INDIA AUTOMOBILES PVT LTD | 776 | 0.28% | 984 | 0.38% |
| PCA AUTOMOBILES INDIA PVT LTD | 640 | 0.23% | 62 | 0.02% |
| FORCE MOTORS LIMITED | 377 | 0.13% | 191 | 0.07% |
| JAGUAR LAND ROVER INDIA LIMITED | 161 | 0.06% | 159 | 0.06% |
| VOLVO AUTO INDIA PVT LTD | 154 | 0.05% | 124 | 0.05% |
| ISUZU MOTORS INDIA PVT LTD | 66 | 0.02% | 80 | 0.03% |
| PORSCHE AG GERMANY | 31 | 0.01% | 48 | 0.02% |
| AUTOMOBILI LAMBORGHINI S.P.A | 4 | 0.00% | 1 | 0.00% |
| BENTLEY MOTORS LTD | 2 | 0.00% | 1 | 0.00% |
| ROLLS ROYCE | 0 | 0.00% | 4 | 0.00% |
| Others | 980 | 0.35% | 3,775 | 1.46% |
| Total | 2,80,016 | 100% | 2,58,921 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 02.01.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,341 out of 1,428 RTOs.
| Tractor (TRAC) | ||||
| Tractor OEM | DEC’22 | Market Share (%), DEC’22 | DEC’21 | Market Share (%), DEC’21 |
| MAHINDRA & MAHINDRA LIMITED (TRACTOR) | 19,389 | 24.68% | 14,938 | 20.01% |
| MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION) | 12,922 | 16.45% | 10,480 | 14.04% |
| INTERNATIONAL TRACTORS LIMITED | 9,722 | 12.37% | 9,266 | 12.41% |
| TAFE LIMITED | 7,867 | 10.01% | 8,297 | 11.11% |
| ESCORTS LIMITED (AGRI MACHINERY GROUP) | 7,759 | 9.88% | 6,260 | 8.39% |
| JOHN DEERE INDIA PVT LTD (TRACTOR DEVISION) | 6,508 | 8.28% | 4,795 | 6.42% |
| EICHER TRACTORS | 5,015 | 6.38% | 5,395 | 7.23% |
| CNH INDUSTRIAL (INDIA) PVT LTD | 3,287 | 4.18% | 2,284 | 3.06% |
| KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD. | 2,385 | 3.04% | 1,582 | 2.12% |
| V.S.T. TILLERS TRACTORS LIMITED | 461 | 0.59% | 485 | 0.65% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE | 357 | 0.45% | 433 | 0.58% |
| PREET TRACTORS PVT LTD | 333 | 0.42% | 505 | 0.68% |
| GROMAX AGRI EQUIPMENT LTD | 285 | 0.36% | 197 | 0.26% |
| Others | 2,273 | 2.89% | 9,736 | 13.04% |
| Total | 78,563 | 100.00% | 74,653 | 100.00% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 02.01.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,341 out of 1,428 RTOs.
