January 2023 Indian Car Sales


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January 2023 Indian Car Sales

Top 10 Best Selling Cars: January 2023

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Automakers' Market Share: January 2023

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Citroën January 2023 Indian Car Sales

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Honda January 2023 Indian Car Sales

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Hyundai January 2023 Indian Car Sales

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Jeep January 2023 Indian Car Sales

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Kia January 2023 Indian Car Sales

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Mahindra January 2023 Indian Car Sales

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Maruti Suzuki January 2023 Indian Car Sales

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Morris Garages January 2023 Indian Car Sales

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Nissan January 2023 Indian Car Sales

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Renault January 2023 Indian Car Sales

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Skoda January 2023 Indian Car Sales

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Tata Motors January 2023 Indian Car Sales

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Toyota January 2023 Indian Car Sales

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Volkswagen January 2023 Indian Car Sales

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FADA Vehicle Registration Data: January 2023

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Press Release:
The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for January’23.

January’23 Retails

Commenting on how January’23 performed, FADA President, Mr. Manish Raj Singhania said, “January’23 witnessed total retail rising by 14% YoY but was still down by 8%, when compared to pre-covid month of January’20. All categories were in green with 2-Wheeler, 3-Wheeler, Passenger Vehicle, Tractor and Commercial Vehicles growing by 10%, 59%, 22%, 8% and 16% respectively on YoY basis.

The 2-Wheeler category showed a growth of 10% YoY but when compared to 2021 and pre-covid month of January’20, it continued to see pressure as the same fell by 7% and 13%. While sentiments are improving at a snail’s pace and are better than what it was a year ago, rural market is yet to fully come to the party as cost of ownership has shot up significantly while disposable income has not increased in the same ratio.

The 3-Wheeler segment has seen 60% growth YoY, 101% growth when compared to 2021 and is now slightly down by mere 3% when compared to pre-pandemic levels in January’20. EV fame-2 subsidy along with demand from commercial 3W space is fuelling healthy growth.

The Passenger Vehicle segment continues to perform well with growth of 22% YoY, 10% from January’21 and 8% from pre-covid month of January’20. While good enquiry, healthy bookings and improved supplies are helping aid this segment, it is the entry level sub-segment which is still feeling the pinch.

Apart from this, while waiting period for some models have come down, compact SUVs, SUVs and luxury vehicles continue to witness minimum waiting of 2-3 months.

The Commercial Vehicle category has also shown robust growth by growing 16% YoY, 23% from January’21 and 6% from pre-covid month of January’20. Continued demand in the market due to replacement of fleet, growth in freight availability and government’s consistent push for infrastructure projects has helped the CV segment rise above pre-covid numbers.”

Near Term Outlook

With China’s factory activity once again gaining pace, global supplies of parts and semi-conductors will see a recovery thus aiding better vehicle supplies and lower waiting period in future. This will further fuel growth for the already healthy Passenger Vehicle category. The economic survey 2022-23 tabled in parliament said that rural wages will rise at a steady positive rate as inflation is expected to soften thus translating into rise in real wages. We are hopeful that this will have its rub-off effect with rise in 2-Wheeler sales going ahead.

The recent announcements in Budget 2023-24 will help aid overall growth of Automobile Retails. Demand of entry level 2-Wheelers and entry level PV is likely to accelerate due to enhanced income tax rebate, budget allocation for vehicle scrappage policy and import duty exemption for manufacturing lithium batteries thus reducing EV acquisition cost. A reduction in surcharge at the highest IT slab will also benefit high end vehicle sales. Apart from this, the capital outlay of Rs 10 Lakh Cr for Infrastructure spending will help aid CV sales which is already witnessing an upswing

Key Findings from our Online Members Survey

• Inventory at the end of January’23

o Average inventory for Passenger Vehicles ranges from 33 – 35 days

o Average inventory for Two – Wheelers ranges from 25 – 28 days

• Liquidity

o Good 34.01%

o Neutral 50.34%

o Bad 15.65%

• Sentiment

o Good 36.73%

o Neutral 48.3%

o Bad 14.97%
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SIAM Sales Summary Report: January 2023

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Press Release:
Monthly Performance: January 2023

Production: The total production of Passenger Vehicles*, Three Wheelers, Two Wheelers and Quadricycles in the month of January 2023 were 19,04,364 units.

Domestic Sales:

• Passenger Vehicles* sales were 2,98,093 units in January 2023.

• Three-wheeler sales were 48,903 units in January 2023.

• Two-wheeler sales were 11,84,379 units in January 2023.

Performance: April 2022 - January 2023

Production: Total production of Passenger Vehicles**, Three Wheelers, Two Wheelers and Quadricycles in April 2022 - January 2023 were 2,09,95,875 units.

Domestic Sales:

• Passenger Vehicles** sales were 31,69,788 units in April 2022 - January 2023

• Three-wheeler sales were 3,84,026 units in April 2022 - January 2023

• Two-wheeler sales were 1,34,41,873 units in April 2022 - January 2023

* BMW, Mercedes, Tata Motors & Volvo Auto data is not available

** BMW, Mercedes & Volvo Auto data is not available, Tata Motors data is only available for Apr-Dec

Commenting on January 2023 sales data, Mr Vinod Aggarwal, President, SIAM said, “Better consumer sentiments is driving demand for Passenger Vehicles. Three-Wheeler segment has gained traction compared to the past two years, though they are still to reach the pre-Covid levels. The rate of growth of Two-wheelers in the recent year has not kept pace with the growth in the other segments. Positive announcements at the Union Budget should help in continuing with the overall growth momentum.”

Commenting on January 2023 sales data, Mr Rajesh Menon, Director General, SIAM said, “Passenger Vehicles again saw highest ever sales in the month of January and for the first time, it has crossed 3 million sales mark in 10 months, from April to January period. Sales of L5 category Three-Wheeler more than doubled in January 2023, compared to January 2022, while Two-Wheelers posted a marginal growth of just around 4% in the month of January 2023, compared to January 2022.”
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