Total vehicle retail sales jump 15% to 2.11 cr units in 2022

New Delhi, January 5

Retail sales of overall vehicles in India grew by 15.28% to 2,11,20,441 units in 2022 led by record sales of passenger vehicles and tractors, Federation of Automobile Dealers Associations (FADA) said on Thursday. In 2021, total retail sales of vehicles in India were at 1,83,21,760 units, FADA said in a statement.

Two-wheelers retail sales stood at 1,53,88,062 units last year, a growth of 13.37% from 2021 when sales stood at 1,35,73,682 units.

Passenger vehicle sales up 16.35%

• In 2021, total retail sales of vehicles in India were at 1.83 crore units
• Two-wheelers retail sales stood at 1.53 crore units last year, up 13.37% from 2021 when sales stood at 1.35 crore units
• Passenger vehicles retail sales were at 34.31 lakh units in 2022, as against 29.49 lakh units in 2021, up 16.35%

Passenger vehicles (PV) retail sales were at 34,31,497 units in 2022, as against 29,49,182 units in 2021, up 16.35%, it added.

FADA president Manish Raj Singhania said, “For CY2022, while total vehicle retails grew by 15% year-on-year and 17% compared to CY20 it failed to surpass CY19 retails, (a pre-Covid year) and registered a fall of 10%.” He further said, “The PV category during this period continued to gain new grounds by clocking 34.31 lakh retails during the full year. This is by far, the highest retails which PV has done to date.” Singhania, however, lamented that the two-wheeler segment once again failed to impress as retail sales during December 2022 continued to fall after two good months.

“Reasons like rise in inflation, increased cost of ownership, rural market yet to pick up fully and increased EV sales, the ICE (internal combustion engine) two-wheeler segment is yet to see any green shoots,” he added.

In 2022, commercial vehicles retail sales stood at 8,65,344 units, as against 6,55,696 units in 2021, a growth of 31.97%.

“The CV segment has continued to grow during entire CY2022 and is now almost at par with CY2019 retails. With an uptick in demand in LCV (light commercial vehicles), HCV (heavy commercial vehicles), buses and construction equipment, the government’s continued push for infrastructure development has kept this segment going,” Singhania said.

He also said the three-wheeler segment which was completely down during Covid has recovered well and has narrowed its gap when compared to CY2019.