The nine days encompassing Navratri 2022 have breathed a new air of relief and promise into India's automobile sector as two-wheeler (2W) sales, three-wheeler (3W) sales, commercial vehicle (CV) sales, passenger vehicle (PV) sales, and tractor (TRAC) sales, increased by high margins when compared to sales of these respective automobile verticals during Navratri 2021.
As compared to a total of 342,459 vehicles sold during Navratri 2021, a total of 539,227 vehicles were retailed during Navratri 2022 representing a 57.46% year-on-year (YoY) jump in sales. Manish Raj Singhania, President, the Federation of Automobile Dealers Associations (FADA), noted that the numbers indicate good signs for India's automobile market.
'Navratri retails clearly shows that customers were back in showrooms with all guns blazing after a gap of three years,' he said.
| CATEGORY | Navratri'22 | Navratri'21 | Navratri'20 | YoY % (2021) | YoY % (2020) | Navratri'19 | YoY % (2019) |
| 2W | 3,69,020 | 2,42,213 | 3,07,903 | 52.35% | 19.85% | 3,55,851 | 3.70% |
| 3W | 19,809 | 9,203 | 5,952 | 115.25% | 232.80% | 15,082 | 31.34% |
| CV | 22,437 | 15,135 | 11,142 | 48.25% | 101.40% | 16,365 | 37.10% |
| PV | 1,10,521 | 64,850 | 86,380 | 70.43% | 27.95% | 69,657 | 58.66% |
| TRAC | 17,440 | 11,062 | 14,387 | 57.66% | 21.22% | 9,177 | 90.04% |
| Total | 5,39,227 | 3,42,459 | 4,25,761 | 57.46% | 26.65% | 4,66,128 | 15.68% |
3Ws Grew The Most, 2Ws Back On Track
Among all the automobile categories, 3Ws posted the most growth at 115.25% YoY during Navratri 2022. The 3W OEMs were able to retail 369,020 3W units during Navratri 2022 against 9,203 3W units that were retailed during Navratri 2021. Moreover, when compared to 2020 figures, the 3W sector posted 232.8% growth as only 5,952 3W units were retailed during that year. However, when compared with 2019, the growth was 31.34% as a total of 15,082 3W units were retailed then
India's 2W industry, considered to be the backbone of the country's automobile vertical, seems to be back on track as it posted 52.35% growth YoY during Navratri 2022. Against a total of 242,213 2W units retailed during Navratri 2021, 369,020 2W units were retailed this year.
'2W category which was continuously showing weakness when compared to pre- covid months, also registered single-digit growth,' said Singhania.
When compared to 2W retail figures for 2020 and 2019, the 2W sector remained the lowest-performing sector of the automobile industry. Compared to 369,020 2W units that were retailed this year during Navratri, a total of 355,851 units were retailed during Navratri 2019 pointing towards a 3.7% jump YoY. It is also to be noted here that this is the first time that FADA has released Navratri-specific retail figures for the automobile sector.
PV & CV Segments Outperform 2019, 2020, 2021 CYs
The country's PV segment not just grew 70.43% YoY during Navratri 2022 Festive Season but it also performed better than the 2020 and 2019 calendar year performances. Against a total of 110,521 PV units retailed this Navratri, only 64,850 were retailed during Navratri 2021. Similarly, only 69,657 PV units were retailed during 2019 resulting in a 58.66% YoY jump in 2022.
India's CV sales also increased 48.25% YoY during Navratri 2022 as a total of 110,521 units were retailed during this time. In comparison, only 64,850 CV units were retailed during Navratri 2021. When compared to PV sales in 2020 and 2019, the sector grew by 101.4% and 37.10%, respectively.
FADA hopes that this trend will continue till Deepawali. 'Apart from PV Dealers who will see a decade high during this festive season, the 2W Dealers also have a good season and hence helps them liquidate their stock which they have built in anticipation of a good festive season,” said Singhania.
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