The vehicle retail data was released by FADA yesterday, February 6, 2023. Speaking with the press, FADA President Manish Raj Singhania said, “While sentiments are improving at a snail’s pace and are better than what they were a year ago, the rural market is yet to fully come to the party as the cost of ownership has shot up significantly while disposable income has not increased in the same ratio.”
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All India Vehicle Retail Data for January 2023
According to the Federation of Automobile Dealers Associations (FADA), 16,085,095 vehicles were sold in January 2022, representing a 13.60% year-over-year increase to 218,164 by 18,26,669 units. But it is 8% less if we compare it to pre-COVID 2020.
The budget session 2023–24 will also boost the automobile sector due to income tax reform. It will primarily increase the entry-level 2-wheeler segment, FADA said.
Market Share Data-January 2023 With A YoY Comparison
Passenger Vehicle
With a YoY increase of 22% in January 2023, compared with 8% and 10% from pre-covid 2020 and January 2021, respectively. There were 3,40,00 vehicle sales last year, an increase of 22 percent. In comparison, there were 2,79,050 units sold last year.
Two Wheeler
In January 2023, 12,65,069 two-wheelers were sold, up from 11,49,351 in January 2022. If we compare it to last year, which saw a growth of 10.07%, it also dipped by 13 percent compared to pre-pandemic 2020.
Three Wheeler
In January 2023, three-wheeler sales increased by 65,796 (up to 60%) compared to 41,487 in January 2022. Compared to 2021, it is 100% growth. EVs play a great role in achieving this, along with the two fuel subsidies.
Bajaj Auto Ltd. sold 24,564 vehicles in January 2023, a 38 percent increase from 15,533 in January 2022.
Tractor
Tractors are extremely important in rural India. The two most powerful players are Mahindra and Mahindra’s joint venture, Swaraj. Mahindra is at its peak, selling 29,442 units with a 41% market share. If we count complete tractor sales by all brands, there was an increase of 8% to 73,156 units last month in January 2023, which was 67,764 units last year in January 2022. And by pre-pandemic January 2020, it had grown by 10%. According to FADA, the government is focusing more on pushing infrastructure projects that will help segment the above pre-covid number.
Commercial Vehicle
Commercial vehicle registrations were at 82,428 units in January 2023, up 16% from 70,853 units in January 2022. Commercial vehicles continue to grow above the pre-pandemic COVID-19 threshold of January 2020 by six per cent.
“China is reopening its market, increasing the global supply chain, reducing vehicle waiting periods and increasing supply. “Furthermore, the budget for 2023–24 will support future growth in retail vehicle sales. Singhania said.
FADA added: “10 lakh crore for infrastructure spending will help aid CV sales, which are already witnessing an upswing.”
See More
Indian Car Sales Figures – January 2023 | Top Selling Cars January 2023
