Vehicle retail sales drop by 8% in July 2022

Better supply is expected to bring down waiting periods in the coming months.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales were down by 8% in July 2022, compared to the same month last year.

Overall sales for the month of July 2022 stood at 14,36,927 units, compared to 15,59,106 units in July 2021. Compared to June 2019, when 17,94,297 units were sold, total vehicle retails have dropped by 19.92%.

July is generally considered a lean month before the festival season starts in August. The 2-wheeler segment witnessed poor demand and high inflation, an erratic monsoon and high cost of ownership made matters worse.

The passenger vehicle segment has been witnessing a dream run as retail sales are already higher than in 2019. Better supply is expected to bring down waiting periods in the coming months.

Tractor sales dropped by 27.72%, from 82,419 units in July 2021 to 59,573 units.

Two-wheeler sales decreased by 10.92% to 10,09,574 units from 11,33,344 units in July 2021.

Three-wheeler sales were up by 80.41% in July 2022. 50,349 units were sold, compared to 27,908 units in July 2021.

Passenger vehicle sales dropped by 4.66% compared to the previous year. 2,50,972 units were sold last month, compared to 2,63,238 units in July 2021.

Commercial vehicle sales increased by 27.32%. 66,459 units were sold in July 2022, compared to 52,197 units in the previous year.

Team-BHP’s detailed analysis of the July 2022 sales figures.

Source: Read Full Article