Firmly in the drivers' seat

Passenger vehicle sales in India have banished the blues of the past two years and are back to pre-Covid levels. Ajit Dalvi tracks the performance of key automotive players and more.

- Ajit Dalvi

The past few weeks of retail activity in the passenger vehicle industry have brought in cheers for the industry. In fact, September 2022 wholesale numbers have set a new monthly benchmark: 3,55,946 units, which constitutes 26 percent month-on-month growth (August 2022: 2,81,210).

September 2022’s record sales were better the previous highest — July 2022’s 3,41,370 units by four percent, October 2020’s 3,34,411 units by 6.5 percent and March 2021’s 3,16,034 units by 12 percent. September 2022’s record tally is a 121 percent increase over September 2021’s 1,60,070 units and 30 percent growth over September 2020’s 2,72,027 units.

Confirming the best-ever monthly sales, Vinkesh Gulati, chairman of FADA India Research & Academy tweeted: “Car despatches to dealers crossed 3.5 lakhs in September 2022. It should be the best month ever for the PV segment!”

A number of growth-enhancing factors have led to the record sales including the easing of the vexing semiconductor supply chain issue, increased vehicle production and supplies to dealers across India as OEMs ramped up manufacturing and strong customer demand in the ongoing festive season.

What’s not to like?

Here is a look at 11 out of 16 PV OEMs’ wholesales, which total 344,822 units, last month. Five carmakers — Renault India, FCA India, PCA Motors India, Force Motors and Isuzu Motor India — have yet to release their September 2022 sales. Suffice it to say that the balance 11,124 units belong to these players who in August 2022 had accounted for 9,235 units between them.