
Passenger vehicle sales drop for first time in 8 months in April
Entry-level PVs have fewer buyers, suggesting that customers at the bottom of the pyramid are still hesitant to upgrade from two-wheelers to four-wheelers, says FADA.
Entry-level PVs have fewer buyers, suggesting that customers at the bottom of the pyramid are still hesitant to upgrade from two-wheelers to four-wheelers, says FADA.
Two-wheeler sales grew 12% year-on-year in March but were down 9% from pre-Covid levels.
The surge is boosted by the launch of new models, continuously improving supply coupled with a healthy booking-to-cancellation ratio, and the wedding season, according to FADA.
All categories were in green in January 2023, with 2-wheeler, 3-wheeler, passenger vehicle, tractor and commercial vehicles growing by 10%, 59%, 22%, 8% and 16%, respectively, FADA data shows.
Easing chip shortage globally has helped Indian companies like Maruti Suzuki and Tata Motors post record sales in 2022.
SIAM data shows auto companies sold 2,76,231 PV units in November 2022, a growth of 28.1%. It’s 32% if Tata Motors’ numbers are added.
In November, Maruti Suzuki grabbed the largest market share of 41.01% in the passenger vehicle segment and sold 1,23,409 units.
Price hikes and higher interest rates have failed to come in the way of India's love for cars.
The implementation of BSVI Stage II regulations, which will mandate the onboard diagnostics (OBD)-2 norms, is going to entail a steep price hike across all categories of vehicles.
PV sales record 58.66% growth over the pre-Covid period (Navratri'19) and 27.95% growth over the Navratri 2020 period.