Two-wheeler segment up 51%; high demand continues for SUVs and premium cars
Domestic two-wheeler sales registered growth of 7 per cent increasing from 258,777 units in October 2021 to 275,934 units in October 2022
Domestic two-wheeler sales registered growth of 7 per cent increasing from 258,777 units in October 2021 to 275,934 units in October 2022
October likely to be good, too, amid the festival season
Honda emerged as the top two-wheeler seller in India in September, followed by Hero and TVS Motor. Ola Electric was the top EV seller
Rural states, such as Uttar Pradesh (UP), Bihar, and Jharkhand, have fallen higher in September on a MoM basis
The month of September 2022 saw Honda Motorcycle and Scooter India overtaking the world's largest two-wheeler maker Hero Motocorp Ltd in terms of retail sales
Domestic two-wheeler registered a growth of 16 per cent, with sales increasing from 244,084 units a year ago to 283,878 units in September 2022
Tractor sales decline 32% despite good monsoons; three-wheelers do modestly compared to 2019
Greaves Electric Mobility projects that sales of electric scooters will balloon to 700,000 units in FY23 from 250,000 units in FY22
Volumes and margins are expected to improve on the back of a good monsoon and decline in raw material costs, respectively
Passenger vehicle sales are expected to be robust in July, driven by a large order book and production ramp-up, while commercial vehicle volumes may remain in an uptrend, a report said on Thursday. However, tractor volumes are likely to decline due to a high base and uneven spread of the monsoon, according to brokerage firm Emkay Global Financial Services, which has retained a positive view on the auto sector. Emkay Global also expects an improvement in two-wheeler sales on the back of higher production and inventory build-up with dealers. Passenger vehicle segment should witness a robust growth on a large order book and production ramp-up, with automakers such as Tata Motors, M&M and Maruti Suzuki expected to log 49 per cent, 28 per cent and 8 per cent volume growth, respectively, in July, the brokerage firm said. For the two-wheeler segment, the brokerage estimates a 35 per cent improvement in domestic sales for Eicher Motor-Royal Enfield, 6 per cent each for TVS Motor and Hero .
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Total two-wheelers sales grew 23 per cent last month at 2,93,715 units as against 2,38,092 units in June 2021, it added.
Fall in raw material prices, low base, and normal monsoon are other positives
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-Covid month of May 2019, according to FADA
Domestic sales stood at 4,66,466 units last month. The company had dispatched 1,59,561 units in the domestic market in May 2021.
Many non-official parameters do indicate a rebound, but high inflation seems to hitting hard, eroding all gains