Auto retail sales register 10% YoY growth in May 2023: FADA| Automobile News | Carzbot

Automobile News - Auto retail sales register 10% YoY growth in May 2023: FADA- Federation of Automobile Dealers Association (FADA) registered a YoY growth of 10.14% in May 2023. - Get in touch with Carzbot.com


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Auto retail sales register 10% YoY growth in May 2023: FADA




June 06, 2023

Federation of Automobile Dealers Association (FADA) registered a YoY growth of 10.14% in May 2023. The three-wheeler segment reported a strong sales growth of 78.57%, while two-wheeler sales saw 9.32% YoY growth.Passenger vehicle sales were up by 4.31 percent in May 2023.

Maruti Suzuki maintains the top spot with 1,18,500 unit sales in May 2023 in the PV segment. Hyundai Motor India secured the second position with a market share of 15.16% and 45,297 unit sales. Third on the list is Tata Motors with 41,824 unit sales in May 2023. Mahindra and Mahindra stood fourth and reported 32,628 unit sales followed by Kia Motor India, which sold 16,819 units.

Coming to the two-wheeler sales, Hero MotoCorp maintained the top position with 5,30,658 unit sales in May 2023 followed by HMSI with 2,69,557 unit sales. TVS Motors secured the third spot with 2,52,247 units, while Bajaj Auto ranked fourth as it registered 1,86,052 unit sales.

In the commercial vehicle segment, cumulative sales stood at 77,135 units last month, witnessing a YoY growth of 7.19%. The EV penetration in the CV segment was just 0.5% of total sales.

Manish Raj Singhania , President, FADA said, “We have witnessed a resurgence in the 2W, 3W, PV, Tractor, and CV segments with growth rates of 9%, 79%, 4%, 10%, and 7% respectively. While there has been a slight -2% decline compared to pre-COVID levels, the overall retail figures have shown improvement. The 2W and CV sales did continue to face some challenges, recording high single digit setback of -8% and -7% respectively.”

FADA said that seasonal factors had a positive effect on two-wheeler sales in May it cautioned about factors like weather, regulatory norms, and inventory-related matters might affect the sales going forward. Further, it added that the growing demand for passenger vehicles might put pressure on the inventories of car manufacturers shortly.

News Source : timesofindia.indiatimes.com


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