New Delhi: Auto OEMs in July-September quarter of the on-going financial year 2022-2023 saw year-on-year improvement in domestic sales across the segments.
According to the latest data by the industry body, Society of Indian Automobile Manufacturers (SIAM), the second quarter of FY23 witnessed an 18.3% jump in total domestic sales to 6,052,628 units compared to 5,115,112 units in the same period in FY22.
Passenger vehicle sales were the highest ever, clocking 1,026,309 units in Q2 FY23 as against 741,442 units in the corresponding quarter of the previous fiscal year.
Within the segment, utility vehicles comprised over 50% share at 517,898 units during the quarter. This was followed by 468,513 passenger cars and 39,898 units of vans.
The industry reported domestic sales of two wheelers at 4,673,931 units during the July-September 2022 quarter, a growth of 12.9% as compared to 4,136,484 units in the corresponding quarter of the previous year.
Sales of commercial vehicles were also up at 231,880 units during Q2 of the current fiscal year, as compared to 166,251 units in Q2 of the last fiscal year.
Vinod Aggarwal, President, SIAM, said, “There is an improvement seen across the segments in Q2 of 2022-23, compared to the previous year. We are hopeful that the Industry will do well in the month of October, which has two major festivals of Dussehra and Diwali. Recent increase in the prices of CNG Fuel, higher Repo Rates and the Russia-Ukraine conflict are of concern and could impact the market in the coming months.”
Rajesh Menon, Director General, SIAM, said, “September has been generally good for industry, as the Passenger Vehicle segment has recorded the highest ever sales in H1 and the Commercial Vehicle segment has started showing trends of better market demand. Off-take of entry level Two-Wheelers and entry level Passenger Vehicles have been of concern especially as the rural demand has not picked up.”
The total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and qadricycles in July-September 2022 was 7,353,039 units.
For the month of September, total domestic sales were up 21.2% to 2,093,286 units as against 1,727,008 units in September 2021.
Domestic sales of passenger vehicles stood at 307,389 units and two wheelers were at 1,735,199 units during the previous month.
Within the respective segments, UVs clocked 151,759 units, passenger cars at 142,727 units and vans at 12,903 units.
Sales of motorcycles during September 2022 stood at 1,114,667 and scooters at 572,919 units. Mopeds clocked 47,613 unit sales.
Total three wheeler sales for the month was at 50,626 units, as against 29,191 units in September lasst year.
Read More:
FADA noted that October is expected to witness even better overall sales due to the festive season further gathering steam.