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CV Retail Sales Analysis: May 2022

Published On Jun 07, 2022By Trucksdekho Editorial Team

The overall commercial vehicle retail sales in the month indicate a growth momentum across all segments of the truck market. Demand for trucks is slowly coming back across heavy, medium and light truck segments. The three-wheeler segment backed by the E-rickshaw category is seeing greater demand from semi-urban and rural markets. We take a detailed look at the numbers.

The automotive retail sales were released by the Federation of Automobile Dealers Associations (FADA) across all vehicle segments in May 2022. Overall, year-on-year basis total vehicle sales in the month have increased significantly, the overall commercial vehicles were up by 278% as compared to the same month last year. The high bump in number is due to the low base owing to the total covid related shut-down in May '21.

Trucks Sale

In May '22, the total commercial vehicles stood at 66,632 units as compared to 17,607 units in May’21. Top volume drivers include Tata Motors: 27,553 units, M&M: 14,739 units, Ashok Leyland: 10,391 units, Volvo Eicher: 4,528 units, Maruti Suzuki: 3,027 units, Daimler India Commercial Vehicles: 1,161 units, Force Motors:1,141 units and SML Isuzu: 860 units.

All the top truck brands have registered higher growth in the month underlining the potential of a momentum in demand that is likely to occur over the coming months as the economy has opened completely. With the increasing demand for raw-material for industries and shipping finished goods to consumers creating demand, fleet operators are now confident of more cargo business, and thus planning to expand the fleet by inducing new trucks.

Three-Wheelers

The sustained demand for last-mile people mobility and cargo shipping to the consumer doorsteps is driving the demand for three-wheelers. More and more customer appetite for e-rickshaw also helping the demand for three-wheelers. In the overall three-wheeler/auto-rickshaw segment, the total sale in the month stands at 41,508 units as against 5,215 units in May '21. The top volume driver in the segment include market leader Bajaj Auto: 10,492 units, Piaggio: 4,177 units, YC Electric: 2,045 units, M&M: 1,764 units, SAERA Electric:1,367 units, TVS Motors:1,218, Atul Auto:1,146 units and Mahindra Electric: 1,073 units.

Commenting on how May '22 performed, FADA President, Vinkesh Gulati said, “Indian Auto Industry during May’22 continued its flattish run for the 3rd consecutive month. While YoY comparison with May '21 shows an exceptionally healthy growth rate across all categories, it is important to note that both May’21 and May '20 were affected by a nationwide lockdown due to covid thus witnessing. Hence a better comparison will be with May '19 which was a normal pre-covid month.”

Short Term Outlook 

Presenting a short-term outlook for the overall automotive sale, Fada said, while the Russia – Ukraine war continues to create a demand-supply mismatch thus delaying the availability of PVs, RBI has warned of more inflation as the increase in wholesale prices will get passed on to the end consumers. This will result in a lower disposable income which will ultimately hamper auto sales. 

RBI’s observation has come at a time when the WPI Index rose by a record 15.1% in the wake of high commodity prices and the impact of the breakdown in supply chains due to the War and the strict lockdown by China. FADA hence continues to remain cautious about any further recovery in Auto Sales in the near term.

Also Read

Revival in the Indian economy likely to drive truck sale

India’s e-rickshaw market is booming

 

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