Indian 3-Wheeler Market Records A 5.1 Percent Retail Sales Growth In June 2024 YoY

The Federation of Automobile Dealers Associations has released the vehicle retail data including the retail sales figures of Indian 3-wheeler OEMs for June 2024. Read on the retail sales of different 3-wheeler brands.

Key Highlights

• In the 3-wheeler segment, retail sales from rural areas accounted for 52.7 percent of the total, while retail sales from urban areas accounted for 47.3 percent.

• FADA shows the highest market share of 36.30 percent through Bajaj Auto in the Indian 3-wheeler retail market.

• In June 2024, Piaggio sold 6850 three-wheelers as opposed to 6178 in June 2023, a 10.88 percent increase in retail sales.

On July 5, 2024, FADA (Federation of Automobile Dealers Associations), the national body of automobile retail industry, announced the vehicle retail data for the month of June 2024. FADA disclosed the proportion of retail sales depending on the divide between urban and rural areas in order to provide thorough insights.

As per the three-wheeler retail data based on urban and rural RTOs, the 3-wheeler segment observed a 52.7 percent contribution in retail sales from rural areas and 47.3 percent retail sales in urban areas. This study provides a better comprehension of the market performance of three-wheelers in India.

Related Link: Answered: Most Asked Questions On Google About E-Rickshaws In India 2024

Insights Of Three-Wheeler Retail Sales Report June 2024

All India three-wheeler retail data includes e-rickshaws (passengers), e-rickshaws (goods), 3-wheelers (goods), 3-wheelers (passengers), and 3-wheelers (personal). The category of e-rickshaws (passengers) saw a sales decline of 2.78 percent in June 2024 YoY (year on year) after selling 37,963 units compared to 39,505 units in June 2023.

In the case of retail performance of e-rickshaws with carts, a remarkable retail sale growth of 59.64 percent is seen in June 2024 YoY by selling 4612 units as compared to 2889 units in June 2023. The 97 units were sold in June 2024 compared to 75 units in June 2023, showing a sales growth of 29.33 percent in the three-wheeler (personal) category.

Moreover, the three-wheeler (goods) category witnessed a marginal sales growth of 3.35 percent in June 2024, totalling a sale of 8959 units in this month compared to 8669 units in June 2023. In the 3-wheeler (passengers) category, 42,690 three-wheelers were sold in June 2024 compared to 39,060 units sold in June 2023, reflecting a 9.29 percent increase in sales on a YoY basis.

This way in India, 94,321 three-wheelers were sold at retail in June 2024 compared to 89,743 units in June 2023, indicating a retail sales growth of 5.1 percent.

Brand-Wise 3-Wheeler Retail Sales Data June 2024

While topping the list of three-wheeler OEMs in retail sales data for June 2024, Bajaj Auto sold 34,238 units compared to 33,264 units in June 2023, highlighting 2.93 percent retail sales growth. In June 2024, FADA reported the highest 36.30 percent market share of Bajaj Auto in the 3-wheeler segment in the country.

With a market share of 7.26 percent in June 2024, Piaggio experienced a 10.88 percent retail sales growth after selling 6850 three-wheelers in June 2024 compared to 6178 units in June 2023. YC Electric Vehicles sold 3355 units in June 2024 compared to 3471 units in June 2023, presenting a retain dip of 3.34 percent.

Contributing to a 5.78 percent market share in the 3-wheeler segment, Mahindra & Mahindra sold 5449 units in June 2024 compared to 5257 units in June 2023, observing a 3.65 percent retail sales growth. Citylife EV in the name of Dilli Electric Auto registered a decrease of 8.27 percent in retail sales after selling 1963 units in June 2024 compared to 2140 units in June 2024.

Saera Electric Auto saw a 4.57 percent increase in retail sales in June 2024 YoY by selling 2471 units in June 2024 in comparison to 2363 units in June 2023. Mini Metro EV recorded a 13.83 percent sales decline, highlighting 1296 unit sales in June 2024 compared to 1504 units in June 2023.

In terms of retail sales in June 2024, Atul Auto shares 2.14 percent and TVS Motors shares 1.85 percent 3-wheeler market in India. In June 2024, Atul Auto sold 2022 units which signifies a 23.29 percent sales growth in comparison to 1640 units sold in June 2023. TVS Motors sold 1746 units in June 2024 compared to 1422 units in June 2023, signifying a 22.78 percent increment in its retail sales.

Bottomline

With a positive retail sales growth rate of 5.1 percent in June 2024 YoY, the 3-wheeler Indian market is expected to boom in the coming months. Thanks to the evolving sector of logistics, cargo and passenger transportation, the retail sales of three-wheeler vehicles including both cargo and passenger 3-wheelers show a positive growth rate.

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