Retail auto sales fall in December, face near-term headwinds: FADA
NEW DELHI: Retail automobile sales in India fell 5% year-on-year in December 2022 to 16.22 units after logging high growth in the festive and wedding-heavy months of October and November, according to data issued by FADA on Thursday.
On month-on-month basis, the fall in December 2022 sales is much steeper at 32% as total retail auto sales had stood 23.80 lakh units in November 2022 Total auto sales stood at 16.22 lakh in December 2022 as against 17.14 lakh in December 2021, 20.57 lakh units in December 2020 and 18.41 lakh units in December 2019.
FADA President Manish Raj Singhania said, “Month of December went into a lull after two super months of October and November, which witnessed adrenaline rush in the entire auto industry. While all other categories were in green, it was the two-wheeler segment which once again dragged total sales by falling 11%. Three-wheeler, PV, tractor and CV during the same period showed growth of 42%, 8%, 5% and 11%, respectively.”
The two-wheeler market, impacted by steep rise in ownership cost and distress in the rural economy, is yet to breach the pre-covid level. While total vehicle retail sales in calendar year (CY) 2022 grew 15% YoY and 17% compared to CY20, it failed to surpass CY19 retails, (a pre-covid year) and registered a 10% fall.
