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Best festive car sales in the past 4 years, but sales may fall, FADA report says

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  • Sales of all vehicles grew 28.8% over the recently concluded holiday season compared to last year, according to a FADA report.
  • As of the pre-Covid holidays of 2019, a growth of 6% has been recorded.
  • The PV segment had its best year in a decade, outgrowing the 2020 numbers by 2%, the FADA report said.

The recently concluded 42-day festive season saw the best-ever auto sales in the past four years, according to a report from the Federation of Automobile Dealers Associations (FADA).

Sales of all vehicles showed 28.8% growth for the period, compared to the same last year – beating the pandemic, as well as the pre-pandemic blues that have haunted the sector since 2019.

“Festive’22 applauds the automotive industry as for the first time customers from each category came out in droves and participated in festive purchases, making it the best in four years. As previously expected, the PV segment had its best year in a decade, outgrowing the 2020 numbers by 2%,” said Manish Raj Singhania, president of FADA.

Singhania said total retail sales were up 6% compared to pre-Covid holidays of 2019. Analysts had expected a good holiday season, citing an early holiday season compared to last year.

For the month of October, car sales grew 48%, the report said. In October, where two major festivals took place, the tricycle segment showed the largest growth.

“With both Navratri and Deepawali falling sharply in one month, the month of October saw double dealer traffic numbers. Apart from this, new launches and good customer schedules also played a vital role in helping to recover demand.” Singhania added.

Category Oct-22 Oct-21 Grow (%)
two-wheelers 15,71,165 10,39,845 51.10%
tricycles 66,763 40.251 65.87%
Commercial Vehicles 74,443 59,363 25.40%
passenger cars 3.28.645 2.33.822 40.55%
Tractors 53.362 45.445 17.42%
Total 2094378 1418726 47.62%

Source: FADA Research

Two-wheelers reported year-over-year growth of over 26% during the holiday season and three-wheelers reported the highest growth at 68%. Commercial vehicles, passenger cars and tractors reported growth of 29%, 34% and 30% respectively from 2021.

Holiday sales in the past four years

Category 2022 2021 2020 2019
two-wheelers 21.55.311 17,05,456 20,15,745 21.08.790
tricycles 93,239 55,435 36.193 91,482
Commercial Vehicles 1.05.566 81,676 72,669 92.536
passenger cars 4.56.413 3.39.780 4.46.984 3.86.421
Tractors 77,602 59,792 75,578 50,109
Total 28,88,131 22,42,139 26,47,169 27.29.338

Source: FADA Research

Sales could fall in the next two months

While the auto industry has had a great festive season, sales could fall over the next two months for a variety of reasons, including customers waiting for new launches next year, price hikes as manufacturers adopt new manufacturing standards, and more.

FADA has said in its report that it remains “cautious” as the auto industry approaches the end of the year. Tata Motors has already announced a price increase for passenger cars from November 7.

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