However, sales declined by 5 per cent month-on-month (m-o-m) mainly due to heavy rains. Except for three-wheelers, which recorded 9 per cent growth, all other categories dipped m-o-m. Three-wheelers hit record sales in July at 94,148 units, surpassing the previous high of 86,857 units in March this year.
“Overall, it has been a good month. The best news is two-wheeler sales, which were lagging,” said Manish Raj Singhania, president, FADA. “Three- wheelers have recorded a historic hike. All segments are firing for now. Month-on-month, July is normally the leanest for us due to the rains. We are seeing an excessive monsoon.”
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Compared to pre-Covid numbers, however, auto retail was still down by 13 per cent, with two-wheelers down 23 per cent and commercial vehicles 4 per cent.
“Despite challenges like a heavy monsoon and a tilt towards electric vehicles (EVs) due to high fuel prices, two-wheelers showed resilience in July, with demand and trust in reputable brands increasing,” Singhania said. The three-wheeler segment’s record numbers indicate the industry’s potential and a growing EV interest, he added. “Yet, addressing issues like OEM (original equipment manufacturer) support and dealer engagement remains crucial.”
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“The CV segment showed mixed dynamics. Despite robust stock availability and growth in areas like school buses, challenges from erratic weather and high vehicle costs affected demand,” Singhania said. “Boost to infrastructure projects, though, is a silver lining.”