FADA has launched Vehicle Retail Data for April 22. Despite the provision chain crunch and chip scarcity, the business has managed to publish constructive development in car retail.
The Federation of Automobile Dealers Associations (FADA) as we speak launched
Vehicle Retail Data for April 22. The business has witnessed development in retails of 37% regardless of the provision chain crunch and semiconductor scarcity. Sales of 2W, 3W, CV, PV, and tractors have been up by 38%, 96%, 25% and 26% respectively.
When in contrast with April’19, whole car retail was down by 6%. Except for PVs and Tractors, which have been up by 12% and 30%, all the opposite classes like 2W, 3W, and CV have been down by -11%, -13%, and -0.5% respectively.
Commenting on how April’22 carried out, FADA President, Vinkesh Gulati stated, “The month of April saw similar Auto Retail figures as of March 22. While YoY comparison with April’21 shows all categories in green with a high growth rate, it is important to note that both April 21 and April 20 were affected by nationwide lockdown due to phases 1 and 2 of the Covid wave which witnessed no to negligible business. Hence a better comparison will be with April 19 which was a normal pre-covid month.”
He added, “April’22 when compared with April’19 reveals that we are still not out of the woods as overall retails were down by -6%. Apart from PV and Tractors which grew handsomely by 12% and 30%, 2W, 3W and CV are yet to turn green as these categories were down by -11%, -13% and -0.5% respectively.”
“With Russia – Ukraine war continuing and China under lockdown, the global Auto Industry continues to witness supply crunch as semiconductor shortage along with high metal prices and container shortage prevails. Customers of the PV segment hence continue to witness long waiting periods.”
“The 2W segment which has witnessed a slight increase in sales when compared to last month is extremely sensitive to price hikes and continues to remain below pre-covid levels. It is a clear sign that Bharat has not been keeping up with India. Apart from rural distress, multiple price hikes coupled with high fuel prices are keeping price-sensitive entry-level 2W customers away.”
“The CV segment after a long downturn which began post the announcement of axle load norms in 2018 is now witnessing demand recovery as all subcategories continue to inch north. Government’s push for infra spending further aids sales.”