- On YoY basis, total vehicle retail for the month of February’22 decreases by -9.21% and -20.65% when compared to February’20 (a regular pre-covid month).
- On YoY basis, 3W and CV were up by 16.64% and 7.41%. 2W, PV and Tractors fell by -10.67%, -7.84% and -18.87% respectively.
- 2-Wheeler category continuous to face the brunt of rural distress and high cost of ownership.
- While demand for PV continues to remain strong, the segment is still facing the heat of semiconductor shortage thus impacting supplies.
- Infrastructure spending by the Government increases demand for HCV and Tippers.
- The ongoing Russia – Ukraine war brings new set of challenges for Indian Auto Retail as raw materials for semiconductor will disrupt supplies and crude breaching US$ 110 mark will act as a hinderance on customer sentiment.
Friday, 4th March, 2022 (GPN): The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for February’22.
February’22 Retails
Commenting on how February’22 performed, FADA President, Mr. Vinkesh Gulati said, “Indian Auto Industry during February continues to remain in red as total retails were down by -9.21% YoY and -20.65% when compared to February’20, a regular pre-covid month.
The 2-wheeler segment is showing no signs of recovery as Bharat continues to play spoil-sport. With cost of acquisition continuously going north, inquiry level remained weak. As corporates and educational institutions continued operating from home, urban demand also took a hit.
Even though the PV segment saw some launches and slight respite in supply due to better production, it was not enough to meet customer demand. Vehicle waiting period thus remains similar to what it was in last few months.
While commercial vehicles are not at similar levels when compared to pre-covid months, slight recovery on yearly basis was visible majorly due to low base effect. This coupled with increase in government’s infrastructure spending saw continued traction in HCV and Tipper segments. Fleet operators who were earlier being missed have slowly started purchasing vehicles.”
Near Term Outlook
With omicron passing away without much impact and supplies showing signs of recovery, it looked as if Indian Auto Industry was at the cusp of recovery until Russia invaded Ukraine. This will once again have ripple effects on the global automobile supply chain.
Russia is one of the largest producers of rare-earth metals especially Palladium, which is an essential metal for semi-conductors. Ukraine on the other hand is one of the biggest producers and exporter of Neon Gas, which is used in the manufacturing of semiconductors. Due the ongoing war, we once again fear the shortage in semi-conductors which will create additional supply side issues for PVs.
With crude breaching US$ 110 mark, the government will not be able to hold prices of petroleum products for long. Post state election results, oil marketing companies will increase fuel prices by at least Rs. 10-15. While this will act as an obstacle for 2-wheeler sales, with educational institutions and offices now fully open and Gudi Padwa round the corner, we may see some increased interest in 2-wheeler as well as the Bus segment (which has witnessed a long dry spell of almost 2 years).
Till the time Russia – Ukraine conflict doesn’t come to an end, FADA changes its outlook from ‘neutral’ to ‘negative’.
Key Findings from our Online Members Survey
- Inventory at the end of February’22
- Average inventory for Passenger Vehicles ranges from 12 – 15 days
- Average inventory for Two – Wheelers ranges from 25 – 27 days
- Liquidity
- Good 45.7%
- Neutral 35.6%
- Bad 18.6%
- Sentiment
- Good 38.8%
- Neutral 34.0%
- Bad 27.2%
Chart showing Vehicle Retail Data
All India Vehicle Retail Data for February’22
CATEGORY |
FEB’22 |
FEB’21 |
YoY % |
FEB’20 |
% Chg, FEB’20 |
| 2W |
9,83,358 |
11,00,754 |
-10.67% |
13,00,588 |
-24.39% |
| 3W |
38,961 |
33,404 |
16.64% |
66,185 |
-41.13% |
| PV |
2,38,096 |
2,58,337 |
-7.84% |
2,29,813 |
3.60% |
| TRAC |
50,304 |
62,004 |
-18.87% |
51,623 |
-2.56% |
| CV |
63,797 |
59,395 |
7.41% |
83,952 |
-24.01% |
| LCV |
37,095 |
35,104 |
5.67% |
51,627 |
-28.15% |
| MCV |
3,782 |
3,793 |
-0.29% |
4,518 |
-16.29% |
| HCV |
19,822 |
16,419 |
20.73% |
24,440 |
-18.90% |
| Others |
3,098 |
4,079 |
-24.05% |
3,367 |
-7.99% |
| Total |
13,74,516 |
15,13,894 |
-9.21% |
17,32,161 |
-20.65% |
Source: FADA Research
Annexure 1
OEM wise Market Share Data for the Month of February’22 with YoY comparison
|
Two – Wheeler (2W) |
||||
| Two-Wheeler OEM |
FEB’22 |
Market Share (%), FEB’22 |
FEB’21 |
Market Share (%), FEB’21 |
| HERO MOTOCORP LTD |
3,11,097 |
31.64% |
3,52,532 |
32.03% |
| HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD |
2,46,504 |
25.07% |
3,00,675 |
27.32% |
| TVS MOTOR COMPANY LTD |
1,55,040 |
15.77% |
1,67,112 |
15.18% |
| BAJAJ AUTO LTD |
1,08,682 |
11.05% |
1,21,052 |
11.00% |
| SUZUKI MOTORCYCLE INDIA PVT LTD |
44,129 |
4.49% |
47,987 |
4.36% |
| ROYAL-ENFIELD (UNIT OF EICHER LTD) |
44,010 |
4.48% |
53,396 |
4.85% |
| INDIA YAMAHA MOTOR PVT LTD |
36,384 |
3.70% |
44,671 |
4.06% |
| HERO ELECTRIC VEHICLES PVT. LTD |
7,356 |
0.75% |
2,194 |
0.20% |
| OKINAWA AUTOTECH PVT LTD |
5,923 |
0.60% |
1,067 |
0.10% |
| AMPERE VEHICLES PRIVATE LIMITED |
4,303 |
0.44% |
806 |
0.07% |
| OLA ELECTRIC TECHNOLOGIES PVT LTD |
3,904 |
0.40% |
0 |
0.00% |
| PIAGGIO VEHICLES PVT LTD |
3,526 |
0.36% |
4,632 |
0.42% |
| CLASSIC LEGENDS PVT LTD |
3,391 |
0.34% |
2,230 |
0.20% |
| ATHER ENERGY PVT LTD |
2,229 |
0.23% |
626 |
0.06% |
| PUR ENERGY PVT LTD |
1,427 |
0.15% |
408 |
0.04% |
| BENLING INDIA ENERGY AND TECHNOLOGY PVT LTD |
1,147 |
0.12% |
256 |
0.02% |
| REVOLT INTELLICORP PVT LTD |
1,128 |
0.11% |
70 |
0.01% |
| Others including EV |
3,178 |
0.32% |
1,040 |
0.09% |
| Total |
9,83,358 |
100.00% |
11,00,754 |
100.0% |
Source: FADA Research
|
Three-Wheeler (3W) |
||||
Three-Wheeler OEM |
FEB’22 |
Market Share (%), FEB’22 |
FEB’21 |
Market Share (%), FEB’21 |
| BAJAJ AUTO LTD |
13,301 |
34.14% |
12,310 |
36.85% |
| PIAGGIO VEHICLES PVT LTD |
3,967 |
10.18% |
5,182 |
15.51% |
| YC ELECTRIC VEHICLE |
1,836 |
4.71% |
1,148 |
3.44% |
| MAHINDRA & MAHINDRA LIMITED |
1,297 |
3.33% |
1,386 |
4.15% |
| ATUL AUTO LTD |
1,225 |
3.14% |
1,345 |
4.03% |
| SAERA ELECTRIC AUTO PVT LTD |
891 |
2.29% |
418 |
1.25% |
| MAHINDRA REVA ELECTRIC VEHICLES PVT LTD |
770 |
1.98% |
460 |
1.38% |
| CHAMPION POLY PLAST |
729 |
1.87% |
418 |
1.25% |
| BEST WAY AGENCIES PVT LTD |
724 |
1.86% |
276 |
0.83% |
| TVS MOTOR COMPANY LTD |
723 |
1.86% |
866 |
2.59% |
| DILLI ELECTRIC AUTO PVT LTD |
711 |
1.82% |
321 |
0.96% |
| UNIQUE INTERNATIONAL |
579 |
1.49% |
230 |
0.69% |
| MINI METRO EV L.L.P |
529 |
1.36% |
222 |
0.66% |
| TERRA MOTORS INDIA PVT LTD |
497 |
1.28% |
286 |
0.86% |
| J. S. AUTO (P) LTD |
444 |
1.14% |
410 |
1.23% |
| Others including EV |
10,738 |
27.56% |
8,126 |
24.33% |
| Total |
38,961 |
100.00% |
33,404 |
100.00% |
Source: FADA Research
|
Commercial Vehicle (CV) |
||||
| Commercial Vehicle OEM |
FEB’22 |
Market Share (%), FEB’22 |
FEB’21 |
Market Share (%), FEB’21 |
| TATA MOTORS LTD |
27,500 |
43.11% |
24,837 |
41.82% |
| MAHINDRA & MAHINDRA LIMITED |
14,038 |
22.00% |
12,042 |
20.27% |
| ASHOK LEYLAND LTD |
9,602 |
15.05% |
8,855 |
14.91% |
| VE COMMERCIAL VEHICLES LTD |
3,913 |
6.13% |
3,717 |
6.26% |
| MARUTI SUZUKI INDIA LTD |
3,277 |
5.14% |
3,281 |
5.52% |
| DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD |
1,445 |
2.26% |
1,164 |
1.96% |
| SML ISUZU LTD |
523 |
0.82% |
466 |
0.78% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE |
398 |
0.62% |
662 |
1.11% |
| Others |
3,101 |
4.86% |
4,371 |
7.36% |
| Total |
63,797 |
100.00% |
59,395 |
100.00% |
Source: FADA Research
|
Passenger Vehicle (PV) |
||||
Passenger Vehicle OEM |
FEB’22 |
Market Share (%), FEB’22 |
FEB’21 |
Market Share (%), FEB’21 |
| MARUTI SUZUKI INDIA LTD |
1,02,653 |
43.11% |
1,20,896 |
46.80% |
| HYUNDAI MOTOR INDIA LTD |
35,542 |
14.93% |
44,595 |
17.26% |
| TATA MOTORS LTD |
32,909 |
13.82% |
21,286 |
8.24% |
| MAHINDRA & MAHINDRA LIMITED |
16,906 |
7.10% |
14,941 |
5.78% |
| KIA MOTORS INDIA PVT LTD |
13,259 |
5.57% |
15,190 |
5.88% |
| TOYOTA KIRLOSKAR MOTOR PVT LTD |
7,382 |
3.10% |
10,312 |
3.99% |
| HONDA CARS INDIA LTD |
7,605 |
3.19% |
8,346 |
3.23% |
| RENAULT INDIA PVT LTD |
5,927 |
2.49% |
6,838 |
2.65% |
| SKODA AUTO VOLKSWAGEN GROUP |
5,333 |
2.24% |
2,826 |
1.09% |
| SKODA AUTO VOLKSWAGEN INDIA PVT LTD |
5,262 |
2.21% |
2,605 |
1.01% |
| VOLKSWAGEN AG/INDIA PVT. LTD. |
7 |
0.00% |
144 |
0.06% |
| AUDI AG |
63 |
0.03% |
51 |
0.02% |
| SKODA AUTO INDIA/AS PVT LTD |
1 |
0.00% |
26 |
0.01% |
| MG MOTOR INDIA PVT LTD |
3,462 |
1.45% |
3,735 |
1.45% |
| NISSAN MOTOR INDIA PVT LTD |
2,905 |
1.22% |
2,500 |
0.97% |
| MERCEDES -BENZ GROUP |
964 |
0.40% |
690 |
0.27% |
| MERCEDES-BENZ INDIA PVT LTD |
941 |
0.40% |
651 |
0.25% |
| MERCEDES -BENZ AG |
18 |
0.01% |
27 |
0.01% |
| DAIMLER AG |
5 |
0.00% |
12 |
0.00% |
| FIAT INDIA AUTOMOBILES PVT LTD |
786 |
0.33% |
317 |
0.12% |
| BMW INDIA PVT LTD |
697 |
0.29% |
663 |
0.26% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE |
155 |
0.07% |
184 |
0.07% |
| VOLVO AUTO INDIA PVT LTD |
95 |
0.04% |
94 |
0.04% |
| JAGUAR LAND ROVER INDIA LIMITED |
91 |
0.04% |
199 |
0.08% |
| FORD INDIA PVT LTD |
71 |
0.03% |
3,724 |
1.44% |
| PCA AUTOMOBILES INDIA PVT LTD |
31 |
0.01% |
0 |
0.00% |
| PORSCHE AG GERMANY |
28 |
0.01% |
34 |
0.01% |
| AUTOMOBILI LAMBORGHINI S.P.A |
6 |
0.00% |
4 |
0.00% |
| ROLLS ROYCE |
1 |
0.00% |
1 |
0.00% |
| BENTLEY MOTORS LTD |
0 |
0.00% |
3 |
0.00% |
| Others |
1,288 |
0.54% |
959 |
0.37% |
| Total |
2,38,096 |
100.00% |
2,58,337 |
100.00% |
Source: FADA Research
|
Tractor (TRAC) |
||||
| Tractor OEM |
FEB’22 |
Market Share (%), FEB’22 |
FEB’21 |
Market Share (%), FEB’21 |
| MAHINDRA & MAHINDRA LIMITED (TRACTOR) |
11,360 |
22.58% |
13,662 |
22.03% |
| MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION) |
8,417 |
16.73% |
10,299 |
16.61% |
| INTERNATIONAL TRACTORS LIMITED |
6,373 |
12.67% |
8,486 |
13.69% |
| TAFE LIMITED |
5,579 |
11.09% |
6,523 |
10.52% |
| ESCORTS LIMITED (AGRI MACHINERY GROUP) |
5,039 |
10.02% |
7,157 |
11.54% |
| JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION) |
4,409 |
8.76% |
5,177 |
8.35% |
| EICHER TRACTORS |
2,749 |
5.46% |
3,979 |
6.42% |
| CNH INDUSTRIAL (INDIA) PVT LTD |
2,080 |
4.13% |
2,449 |
3.95% |
| KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD. |
1,333 |
2.65% |
1,115 |
1.80% |
| V.S.T. TILLERS TRACTORS LIMITED |
416 |
0.83% |
416 |
0.67% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE |
380 |
0.76% |
336 |
0.54% |
| INDO FARM EQUIPMENT LIMITED |
316 |
0.63% |
240 |
0.39% |
| CAPTAIN TRACTORS PVT. LTD. |
97 |
0.19% |
142 |
0.23% |
| Others |
1,756 |
3.49% |
2,023 |
3.26% |
| Total |
50,304 |
100.00% |
62,004 |
100.00% |
Source: FADA Research. ENDS
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