India’s car retail gross sales Q3 2022: Three Wheelers recorded the best development

Indians are shopping for autos like by no means earlier than. This 12 months, the nation has recorded an all-time excessive development in car retail gross sales. In line with Federation of Car Sellers Associations (FADA) knowledge, India bought 5,938,844 items of autos in Q3 2022, in comparison with 4,632,020 items throughout a year-ago interval. That’s a formidable 28.2% YoY development in auto retail gross sales in the course of the third quarter.

India’s car retail gross sales elevated a formidable 25.7% YoY in November 2022, to a file 23,80,465 items.

Whereas in September and October months, the nation bought 14,64,001 and 20,94,378 items of autos, respectively. There was a major 10.94% YoY and 47.6% YoY development recorded throughout the identical interval.

What’s driving India’s car retail gross sales in 2022?

India’s vehicle retail gross sales in Q3 2022 had been primarily pushed by the festive and wedding ceremony season. There have been some jaw-dropping affords and reductions on all types of autos between September and November as a result of Diwali, Navratri and different festivals. As well as, most Indians buy both two or four-wheelers proper earlier than or after their weddings. This marks the start of their new household.

You will need to observe that the Nice Indian Marriage ceremony Season (from 14th November to 14th December) has boosted auto retail gross sales in India. This 12 months, about 32 lakh weddings can be held throughout the nation.

November 2022 has clocked highest retails within the historical past of Indian Car Trade with March’20 as an exception when retails had been greater as a result of BS-4 to BS-6 transition, Manish Raj Singhania, FADA President, mentioned.

Three Wheelers recorded the best gross sales

India recorded a robust year-over-year development in car retail gross sales in Q3 2022, throughout all segments.

India bought a record-breaking 74,473 items of three-wheelers in November 2022, representing a whopping 80.3% YoY improve. Passenger E-Rickshaws accounted for about 45.6% of all three-wheeler gross sales in India final month. A file 33,971 items of Passenger E-Rickshaw had been bought within the nation, representing a large 112.88% YoY improve. The electrification within the 3W phase continues at its highest tempo.

For the final two years, the federal government has been pushing the adoption of electrical autos in India.

The September and October months additionally recorded a robust 71.9% YoY and 65.9% YoY development in three-wheeler gross sales in India, respectively. Three-wheeler gross sales in India peaked in Q3 2022, with 205,151 items bought and a 72.8% YoY improve.

India’s two-wheelers gross sales additionally jumped up a formidable 23.6% YoY, to 1,847,708 items in November. In Q3 2022, a whopping 4,434,575 or (over 44 lakh) items of 2W had been bought in India, recording 27.9% YoY development.

The gross sales of Passenger autos, Tractors and Business autos additionally grew at a notable fee of 23.7% YoY, 23.8% YoY and 25.7% YoY, respectively, in Q3 2022.

Now let’s perceive how the demand for autos has elevated in 2022, in comparison with the earlier years.

The sturdy development in India’s auto retail gross sales in Q3 2022 was led by the enjoyable Covid norms in lots of international locations. The restrictions on cross-country journey and shipments are lifted after almost two years of Covid-19 lockdown. The lockdown restrictions in the course of the pandemic made cross-country journey not possible for folks. Because of this, auto retail gross sales had been down in each 2020 and 2021.

Nonetheless, in comparison with the identical length within the pre-covid period (Q3 2019), the general car retail gross sales in India elevated by a marginal 2.39% in Q3 2022. Whereas the 2W phase is but to achieve the identical development – confirmed a dip of two.12% – all different segments like 3W, PV, Tractor and CV grew 2.8%, 19.4%, 49.6% and 11.7% respectively.

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