The preceding fiscal was good news for automakers with the January-March quarter recording 8.8% growth to 5.05 million units. The figure for March was 1.63 million units, an increase of 8.37%.
Of the Q4 tally, passenger vehicle domestic sales were 1.01 million units, up 10.6% while March was 0.82% higher at 292,030 units. The two wheeler segment posted retails of 1.29 million units in March (+7.65%) and up 6.33% to 3.64 million units in Q4. The recovery is still a long way off considering that the peak was 5.11 million units in Q4 of FY ’18.
Commercial vehicle sales totalled 278,878 units in the quarter, almost at par with the previous peak of 284,000 units in FY ’19. As for three wheelers, the tally was 153,654 units in Q4, up 84.2% but still lower than the previous peak of 197,000 units in FY ’18. For March, three-wheeler retails were 54,360 units, an increase of 69.16% over 32,135 units sold in the same period last year.
| Indian Auto Industry (Domestic Sales) | ||||||
| 23-Mar | 22-Mar | Change | Q4FY23 | Q4FY22 | Change | |
| PV | 292,030 | 279,525 | 0.82 | 10,18,355 | 9,20,685 | 10.6 |
| 2W | 1,290,553 | 1,198,825 | 7.65 | 36,04,593 | 33,89,792 | 6.33 |
| 3W | 54,360 | 32,135 | 69.16 | 1,53,645 | 83,387 | 84 |
| CV | NA | NA | NA | 2,78,878 | 2,49,806 | 11.6 |
| Overall | 16,37,048 | 15,10,534 | 8.37 | 50,55,755 | 46,43,730 | 8.8 |
Exports In Free Fall
While domestic sales were encouraging, SIAM data shows that exports in Q4 were 953,447 units, down 46.5% from the same period last year. March exports fell by 25.87% to 334,360 units.
2W shipments in March crashed 30.8% to 245,574 units and 3Ws by 49.8% to 19,334 units. The corresponding numbers for the Jan-March quarter for 2Ws were 700,764 units (down 36.4% ) while 3W and CVs fell by 45.4% and 35.3%.
| Indian Auto Industry (Exports) | ||||||
| 23-Mar | 22-Mar | Change | Q4FY23 | Q4FY22 | Change | |
| PV | 69,026 | 61,270 | 12.6 | 1,71,854 | 1,53,878 | 11.6 |
| 2W | 2,45,574 | 3,51,241 | -30.08 | 7,00,764 | 11,01,896 | -36.4 |
| 3W | 19,334 | 38,535 | -49.8 | 62,054 | 1,13,683 | -45 |
| CV | NA | NA | NA | 17,695 | 27,355 | -35.3 |
| Overall | 3,34,360 | 4,51,058 | -25.87 | 9,53,447 | 13,96,999 | -46.5 |
However, PV exports were up with March recording 69,026 units, up 12.6% while Q4 showed an increase of 11.6% to 171,854 units.
Photo credits: Toyota Kirloskar Motors
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