The Automotive sector records a positive number compared to the previous year. Further, the YoY total vehicle sales recorded an increase of 27% in June’22. All segments recorded a positive result.
The two-wheeler segment recorded 20%, the three-wheeler segment recorded 212%, the passenger vehicle segment recorded 40%, whereas the Tractors and Commercial Vehicles recorded 10% and 89% respectively. Further, few segments have been consistently showing signs of recovery. However, full recovery is yet to be witnessed as compared to pre-covid sales. Moreover, when compared with June’19, the automotive sector recorded -9% in June’22.
Additionally, the Passenger Vehicle and Tractor category has continued to record positive results with 27% and 40%. For the first time, Commercial Vehicle too recorded an increase of 4%. The two segments that continue to underperform are the two-wheeler and the three-wheelers. That de-grew by -16% and -6% respectively. The overall first quarters of FY22 recorded a 64% growth compared to the first quarter of FY21.
However, the overall sales de-grew by -8% when compared to the first quarter of FY19. Passenger Vehicles and Tractors were the only sectors in throughout the entire quarter. The increased wholesale results in ease of semi-conductor availability thus reducing the supply-side constraints in the coming future. However, the high inflationary pressure seems a cause of major concern though.
*Source: FADA Vehicle Retail June’22 Data