Coming to the three-wheeler segment, it witnessed a massive growth of 75% in June 2023. The Tractor and CV segments observed growth of 41% and 0.5% respectively.
The CV sales grew by 1.5% last month as compared to June 2019, surpassing the pre-COVID level for the first time. However, the overall auto retail market reported a decline of 3% in June 2023, compared to pre-COVID levels.
All India Vehicle Retail Data for June’23
| CATEGORY | JUNE’23 |
JUNE’22 | YoY % (2022) |
| 2W | 13,10,186 | 12,27,149 | 6.77% |
| 3W | 86,511 | 49,299 | 75.48% |
| E-RICKSHAW(P) | 39,042 | 24,257 | 60.95% |
| E-RICKSHAW WITH CART (G) | 2,877 | 1,858 | 54.84% |
| THREE WHEELER (GOODS) | 8,342 | 6,764 | 23.33% |
| THREE WHEELER (PASSENGER) | 36,180 | 16,373 | 120.97% |
| THREE WHEELER (PERSONAL) | 70 | 47 | 48.94% |
| PV | 2,95,299 | 2,81,811 | 4.79% |
| TRAC | 98,660 | 69,952 | 41.04% |
| CV | 73,212 | 72,894 | 0.44% |
| LCV | 41,975 | 43,989 | -4.58% |
| MCV | 5,988 | 5,621 | 6.53% |
| HCV | 22,070 | 21,034 | 4.93% |
| Others | 3,179 | 2,250 | 41.29% |
| Total | 18,63,868 | 17,01,105 | 9.57% |
FADA Research
The report said, “The two-wheeler market faced supply constraints and economic pressures, registered a 12% MoM decline in sales. Moroever, the revised FAME-2 subsidies resulted in 56% MoM decline in EV sales.”
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Further, it stated, “Passenger vehicle segment faces inventory pressures from OEMs and demand-supply mismatches, impacting profitability, but the anticipation of a boost from the upcoming festive season beginning, end-August offers a hopeful outlook.”
Erratic monsoon in India is hindering crop yields and it may affect the automobile sales, particularly in rural areas. Yet, proper rainfall may potentially revive rural demand and positively influence automotive sales, said the report.
Manish Raj Singhania, FADA President said, “June’23 witnessed the 3W market’s robust growth, primarily owing to the previous year’s low base effect and positive market sentiment. The shift towards alternative fuels, predominantly EVs, continues to play a significant role in driving this growth, despite potential supply concerns due to non-availability of OBD2 vehicles.”
